What do you guys think should be the Pay Day in a Company? How do you think it all effects a Company and Employees if it is Lat working Day of a month / 1st Working day of next month / 6-7th working day of next month?
Aroraneha,
As per Payment of Wages Act, wages for a month is to be paid on or before 7th of the succeeding month, provided the employee strength is below 1000. If the strength is 1000 or above, payment date can be up to 10th.
Abbas.P.S
From India, Bangalore
517As per Payment of Wages Act, wages for a month is to be paid on or before 7th of the succeeding month, provided the employee strength is below 1000. If the strength is 1000 or above, payment date can be up to 10th.
Abbas.P.S
From India, Bangalore
As a general policy say the payday should be on or before 5th of every month, so the Employees as well as Organisation will have the time think and calculate accurate payroll process. Thank you.
From India, Bangalore
From India, Bangalore
The Pay Day that is fixed by the company, needs to be constant and every month, irrespective of any problem, the salary needs to go on that day.
If the Pay Day is 7th of Every Month, then year on year, without fail, the credit should happen on 7th of the month. The consistency, helps the employees, to organize their monthly budgets and payments.
So, having the pay day as 1st or 10th is not the problem, the real problem is the consistency in maintaining that date month on month.
Most if the employees will think the pay date is a problem, if the date is not fixed and maintained.
Regards,
Ashutosh Thakre
From India, Mumbai
If the Pay Day is 7th of Every Month, then year on year, without fail, the credit should happen on 7th of the month. The consistency, helps the employees, to organize their monthly budgets and payments.
So, having the pay day as 1st or 10th is not the problem, the real problem is the consistency in maintaining that date month on month.
Most if the employees will think the pay date is a problem, if the date is not fixed and maintained.
Regards,
Ashutosh Thakre
From India, Mumbai
Pay day in a company it should be the last working day of every month. The HR dept should take a necessary action to made this sucess
From India, Coimbatore
From India, Coimbatore
Aroraneha ,
Dear Abbas has clarified correctly as per Act.
Discuss with Management with Act & Implication to fix the date .
Remember Employer has to pay /Deposit PF in due date e.g. 15 days from salary .date .
Other Statutory taxes also to be deposited .
Therefore ,discuss with Management , Accts / Salary Admin Team any other decision body & than finalize. Once it is fixed once has to display on Notice Board also .
Regards
From India, Mumbai
Dear Abbas has clarified correctly as per Act.
Discuss with Management with Act & Implication to fix the date .
Remember Employer has to pay /Deposit PF in due date e.g. 15 days from salary .date .
Other Statutory taxes also to be deposited .
Therefore ,discuss with Management , Accts / Salary Admin Team any other decision body & than finalize. Once it is fixed once has to display on Notice Board also .
Regards
From India, Mumbai
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