brijeshsingh
I am working as a hr in a contractor firm . i am receiving my salary by cash in hand. how can it effect my future when i will change my job .

nathrao
3131

Do you get pay slips? Is tax being deducted from your pay?
From India, Pune
Rahul Chhabra
152

Most probably you are getting cash as the contractor firm wants to evade statutory liabilities and taxes unless they give you a payslip with all statutory deductions mentioned on it.
If this is the case, its may hamper your prospects of justifying your actual salary to your next employer as there is no valid proof of salary being paid or taxes deducted.
Regards
Rahul Chhabra

From India, Delhi
ashok-sharma1
5

please see following provision of income tax act 1961:-
(i) To reduce the existing threshold of cash payment to a person from twenty thousand rupees to ten thousand rupees in a single day; i.e any payment in cash above ten thousand rupees to a person in a day, shall not be allowed as deduction in computation of Income from "Profits and gains of business or profession";
it says a company can pay in cash to one individual Rs. 10000 in cash in a day and it is perfectly legal to do so. But for an employee, it would be difficult to show proof to next employer because there wont be any bank pass book entry or copy of cheque. So it is better your salary is credited to your bank account or a cheque is given to you for your salary.

From India
brijeshsingh
thanks for you guidance on my problem

Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.