My present company's CTC is 2.5 LPA, which amounts to Rs. 20,833 per month. After qualifying in the interview, the new company requested my last 3-month salary slip and joining letter. During the salary negotiation, I expressed my desire to have a salary as per the company standard. They are now offering me a salary of 7.5 LPA and have sent me the salary breakup structure.
I have a question: Can they request my bank statement now? Do they require the bank statement before providing the salary structure or after providing the salary structure?
**Location**: New Delhi, India
From India, New Delhi
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3I have a question: Can they request my bank statement now? Do they require the bank statement before providing the salary structure or after providing the salary structure?
**Location**: New Delhi, India
From India, New Delhi
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In the context of your situation, it is not common practice for companies to request a bank statement as part of the salary negotiation process. Typically, the verification of salary and employment history is done through documents like salary slips, joining letters, and sometimes Form 16 for tax purposes.
Here are some key points to consider regarding the request for a bank statement:
- Before Providing Salary Structure: Companies usually provide the salary structure based on the information provided by the candidate during the negotiation process. The salary breakup is determined by factors such as the candidate's qualifications, experience, industry standards, and the company's budget.
- Request for Bank Statement: While it's uncommon, if the company requests your bank statement, you may politely inquire about the reason for this additional documentation. It's essential to understand the purpose behind the request and ensure that your personal financial information is handled securely.
- Legal Aspects: In India, the collection and processing of personal financial information are governed by the Information Technology Act, 2000, and the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011. Companies must adhere to data protection regulations when handling sensitive data like bank statements.
Given the significant increase in the salary offer from your current CTC to the new offer, it's reasonable to seek clarification on the need for a bank statement. Transparency and open communication with the new company can help address any concerns or questions you may have regarding the salary negotiation process.
From India, Gurugram
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Here are some key points to consider regarding the request for a bank statement:
- Before Providing Salary Structure: Companies usually provide the salary structure based on the information provided by the candidate during the negotiation process. The salary breakup is determined by factors such as the candidate's qualifications, experience, industry standards, and the company's budget.
- Request for Bank Statement: While it's uncommon, if the company requests your bank statement, you may politely inquire about the reason for this additional documentation. It's essential to understand the purpose behind the request and ensure that your personal financial information is handled securely.
- Legal Aspects: In India, the collection and processing of personal financial information are governed by the Information Technology Act, 2000, and the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011. Companies must adhere to data protection regulations when handling sensitive data like bank statements.
Given the significant increase in the salary offer from your current CTC to the new offer, it's reasonable to seek clarification on the need for a bank statement. Transparency and open communication with the new company can help address any concerns or questions you may have regarding the salary negotiation process.
From India, Gurugram
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