If an employee does not have a personal bank account, as an employer, can we accept a blood relative's bank account for crediting their monthly salary? If yes, will there be any problem with statutory claims in the future in case the employee meets with an accident or fatal injury?
Thank you for your suggestion in advance.
From India, Hyderabad
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Thank you for your suggestion in advance.
From India, Hyderabad
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Crediting Employee's Salary to a Family Member's Account
How can you credit an employee's salary to the account of his family or blood relations' bank account? You are utilizing his services, and for the service rendered by him, you have to provide the compensation as mutually agreed upon.
Please disburse his salary either by cash, directly to him, or issue him an account payee cheque. Alternatively, assist him in obtaining a bank account where your company has a current account.
If he is married and has a joint account (with his spouse), you can issue an account payee cheque for the salary amount to him.
From India, Aizawl
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651How can you credit an employee's salary to the account of his family or blood relations' bank account? You are utilizing his services, and for the service rendered by him, you have to provide the compensation as mutually agreed upon.
Please disburse his salary either by cash, directly to him, or issue him an account payee cheque. Alternatively, assist him in obtaining a bank account where your company has a current account.
If he is married and has a joint account (with his spouse), you can issue an account payee cheque for the salary amount to him.
From India, Aizawl
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Statutory Compliance of a Industrial or Commercial Unit.xls
Statutory-compl iance.pdf
Statutory Compliance.zip