Hi All,
Just wanted to know if company HR personnel have the authority to scrutinize Investment proofs (Insurance Premiums/ELSS/PPF) submitted by employees.
The reason I ask this is because I have been asked to show my Bank Pass Book entries to prove the investment was made by me and no one else. I personally believe I am answerable to the IT Department only and such an act by employers is a gross violation of privacy and hence wanted to seek expert opinion.
Thanks
Justin
From India, Mumbai
Just wanted to know if company HR personnel have the authority to scrutinize Investment proofs (Insurance Premiums/ELSS/PPF) submitted by employees.
The reason I ask this is because I have been asked to show my Bank Pass Book entries to prove the investment was made by me and no one else. I personally believe I am answerable to the IT Department only and such an act by employers is a gross violation of privacy and hence wanted to seek expert opinion.
Thanks
Justin
From India, Mumbai
Dear Justin,
Your HR Department has the right to seek such information / proofs on investment.
The reason behind this is that they have to make sure that the investments are genuine and made by you only. They can give you the benefit of tax exemptions only after that. As an employer they have to give you tax benefits only after being satisfied that it is genuine. Otherwise, they might attract penalty for violation of IT rules.
Kindly cooperate with them.
Thanks & Regards,
Avika
From India, New Delhi
117Your HR Department has the right to seek such information / proofs on investment.
The reason behind this is that they have to make sure that the investments are genuine and made by you only. They can give you the benefit of tax exemptions only after that. As an employer they have to give you tax benefits only after being satisfied that it is genuine. Otherwise, they might attract penalty for violation of IT rules.
Kindly cooperate with them.
Thanks & Regards,
Avika
From India, New Delhi
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.
SRINIVAS HR SOLUTIONS-Compa ny Profile.pdf
HR - Personnel Functions.pps
Hr policies in new company.doc