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Thread Started by #laxmikant.joshi

hi,
i am working in small firm,when i saw my bank statement my employer depositing salary by cash in my account(as he opened it as savings acccount) where its valid..is it affect my future company if its asks for bank statement....need clarification
18th September 2015 From India, Gulbarga
Why is your employer giving separate cash payment to employees?
He can use NEFT fo payments.
Request him to do so and issue pay slips,form16 etc.
That will be proof of your salary.
As a last resort your passbook with monthly salary deposits can be proof of salary being received by you.
18th September 2015 From India, Pune
There is nothing wrong with the employer putting in cash into your bank account, though it is unusual. Perhaps he is not showing the income in his records....
If the future employer asks for the bank statement, you can say the employer deposited it that way. So long as your income is not more than what is deposited, I do not see any reason why the prospective employer will have a problem.

18th September 2015 From India, Mumbai
Laxmikant,
Have you been given an appointment letter? If not, cash deposits to your account point to a sinister design! You have no proof of employment with your present firm!
Please ask for both to avoid problems later.
Good luck.
Colonel Gahlot
19th September 2015 From India, Delhi
""Please ask for both to avoid problems later.""
IT department can ask you reason for cash deposit.
Even bank can query your monthly cash deposits by someone else.
I do hope your employer has given you a offer/appointment letter.
In this era when Income Tax department is active in looking for tax evasion,problems can come up.
19th September 2015 From India, Pune
but he is providing salary slip every month without mentioning the bank payment mode.....
19th September 2015 From India, Gulbarga
Nothing wrong in cash getting deposited in your bank account. So long as income is captured by documented entry in the bank a/c, it's fine. Ensure that you get salary slip giving gross, deductions & net. Rgds. S Nagasubramanian, RSB Group. Mob 9325006193
21st September 2015 From India, Pune
As far as you are getting the Payslips and the same amount is getting credited to your Bank by a third party as cash deposit, would not affect by any means, your future employer will ask for the Payslips only and if in case they ask the Bank Statement, the cash deposits made by your present employer should match with your payslips.
21st September 2015 From India, Ahmadabad
It is employer problem. In what way employee is affected. I.T. authorities may question the cash depositor, not you, as long as you they issued you the payslips.
21st September 2015 From India, Lucknow
Even the employer will not face any problem if proper books and records are maintained as per the statutory norms.
21st September 2015 From India, Ahmadabad
If you are getting payslips monthly in proper manner then nothing to worry at all. If you every proof for appointment and working with organization then no matter whatever mode of payment . Even you are not going to get problem in return filing as you are having proof of payment as salary slip.
21st September 2015 From India, Mumbai
Hello Mr. Joshi,
The mode of payment of your monthly salary (by your employer) can be in cash or by direct remittance (or by cheque / cash deposit) to your bank account. However, you need to check the remarks under "transaction details" in your bank statement to avoid any possible query from either the IT. It is important that your employer's name figures in there orelse there's a big problem.
Check the correctness of the figures by comparing it with your salary slip (since you said that those were being issued to you). And last but not the least, insist for Form 16 from your employer, which will clearly indicate your total income from our employer in the previous financial year (along with the details of the TDS deduction & submission to the Income tax by your employer, if any).
All these documents together are enough to safeguard you against any IT queries and would suffice the need to justify your salary / employment details to prospective employers.
Cheers, A.B.
21st September 2015 From India, Mumbai
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