In my factory, salaries are paid through the bank for all employees. Except for workers, all categories of employees receive payslips through the Employee Self Service (ESS) portal. Currently, to issue a payslip to a worker, we take the worker's signature on the payslip counterfoil with a revenue stamp.
Query on Payslip Signature Requirement
My query is, since workers are also paid through bank transfer, what is the necessity of taking a signature on the payslip counterfoil with a revenue stamp? Kindly advise on any recent updates regarding this particular topic or any recent amendments so that I can discontinue this existing practice and workers can also download their payslips through the ESS portal.
I seek this clarification with regards to Tamil Nadu state. Kindly advise.
Regards, Nagaraju Raghavendran
From India, New Delhi
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Query on Payslip Signature Requirement
My query is, since workers are also paid through bank transfer, what is the necessity of taking a signature on the payslip counterfoil with a revenue stamp? Kindly advise on any recent updates regarding this particular topic or any recent amendments so that I can discontinue this existing practice and workers can also download their payslips through the ESS portal.
I seek this clarification with regards to Tamil Nadu state. Kindly advise.
Regards, Nagaraju Raghavendran
From India, New Delhi
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As per the Payment of Wages Act, if the salary / wages are paid through bank transfer, then no requirement of ack on revenue stamp.
From India, Madras
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302From India, Madras
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Dear Mr. Nagaraju,
The system of "Revenue Stamp" has been discontinued for a long time. You have not specified the value of the Revenue Stamp. From where are you buying the Revenue Stamp?
You have confirmed that the salary is credited electronically. Consequently, the signature of the employee on a copy of the payslip suffices.
From India, New Delhi
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The system of "Revenue Stamp" has been discontinued for a long time. You have not specified the value of the Revenue Stamp. From where are you buying the Revenue Stamp?
You have confirmed that the salary is credited electronically. Consequently, the signature of the employee on a copy of the payslip suffices.
From India, New Delhi
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Electronic transfer of funds
Electronic transfer of funds or payment to a bank account as provided by the employee is sufficient. Every employee should be asked to provide their preferred bank account and a cancelled cheque leaf for the transfer of salary. No separate signature over a revenue stamp is required.
The Payment of Wages (Amendment) Bill, 2016
The Payment of Wages (Amendment) Bill, 2016 was introduced in the Lok Sabha on December 15, 2016, by the Minister of Labour and Employment, Mr. Bandaru Dattatreya. The Bill amends the Payment of Wages Act, 1936.
Method of payment of wages
Under the 1936 Act, all wages must be paid either in coin or currency notes, or both. However, the employer may pay an employee's wages either by cheque or by crediting it into their bank account, after obtaining written authorization. The Bill amends the 1936 Act to permit the employer to pay an employee's wages: (i) in coin or currency notes; (ii) by cheque; or (iii) by crediting them into their bank account. The Bill removes the requirement of obtaining written authorization for payment of wages by cheque or through a bank account.
From India, Pune
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Electronic transfer of funds or payment to a bank account as provided by the employee is sufficient. Every employee should be asked to provide their preferred bank account and a cancelled cheque leaf for the transfer of salary. No separate signature over a revenue stamp is required.
The Payment of Wages (Amendment) Bill, 2016
The Payment of Wages (Amendment) Bill, 2016 was introduced in the Lok Sabha on December 15, 2016, by the Minister of Labour and Employment, Mr. Bandaru Dattatreya. The Bill amends the Payment of Wages Act, 1936.
Method of payment of wages
Under the 1936 Act, all wages must be paid either in coin or currency notes, or both. However, the employer may pay an employee's wages either by cheque or by crediting it into their bank account, after obtaining written authorization. The Bill amends the 1936 Act to permit the employer to pay an employee's wages: (i) in coin or currency notes; (ii) by cheque; or (iii) by crediting them into their bank account. The Bill removes the requirement of obtaining written authorization for payment of wages by cheque or through a bank account.
From India, Pune
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SELF-CERTIFICAT E PROFORMA FOR I.T. (HARDWARE) UNITS UNDER THE PAYMENT OF WAGES ACT, 1936.doc