Your observation may be partly correct in view of the ease and comfort of the electronic financial transactions and changes in accounting procedures accordingly. However, legal compliance is altogether different. For example, the Payment of wages Rules,1936 require maintainence of wages register and issue of wages slips to employees. Moreover, sec.6 of the PW Act,1936 requires payment of wages in current coins only and mandates other modes like cheques or electronic transfer only with the written authorisation of the employees. Aquittance Rolls being the hard copy of the disbursement of salary/wages, they are safe from electronic hazards. After all, your hands are the best and ultimate weapon in the physical combat when you lose all other armour!
7th December 2016 From India, Salem
7th December 2016 From India, Pune