If it is a cash payment and above Rs. 5000/-, then it is mandatory. Basically, the law is made to ascertain whether or not the employee is paid regularly as per the Payment of Wages Act and as per the minimum wages/equal remuneration, etc. If the salaries are disbursed through a bank, then no question of a signature with or without a revenue stamp. In case of any legal issue, the bank statement will speak for it. Let us also know that even today in some companies, some workers are paid less than what they are signing in the salary register. In the same way, in some other companies, on some imaginary names, positions are created, and on those names, salaries are drawn. Again, all related to morality in society. What can the law do? Why do we lock our office or house while going out? Because we all know very well that the locks are made for honest people in society and not for thieves/dacoits.
Regards, S. Kumarasubramanian