Please tell me is there a statutory last day for disbursing salary for a company with approx. 80 employees and where the average salary amount is more than 10k. Is there any statutory sealing of salary in this regard?
From India, Calcutta
From India, Calcutta
As per payment of wages act, for an establishment employing less than 1000 employees; monthly wages shall be paid by the 7th of next month; and if the strength is more than 1000; then wages must be paid by the 10th of next month of which wages are due.
Regards
Rahul
From India, Delhi
152Regards
Rahul
From India, Delhi
Dear Ropan
In continuation of reply by Rahul, please note that here not the date but period is important . The Act says payment should be made within 7 days from the last payment date.
Shailesh Parikh
99 98 97 10 65
Vadodara
From India, Mumbai
In continuation of reply by Rahul, please note that here not the date but period is important . The Act says payment should be made within 7 days from the last payment date.
Shailesh Parikh
99 98 97 10 65
Vadodara
From India, Mumbai
Hi Rahul, Thanks for the quick response. But is this condition of 1000 employees and 7th of the month is valid only up to salary of 10k?
From India, Calcutta
From India, Calcutta
sir, it is not the last payment date. it is after the last day of the wage period in respect of which the wages are payable. regurajan
From India
From India
Dear Colleague,
Your query falls within the ambit of the provisions under the Payment Of Wages Act, 1936 and its recent amendments.
The act applies to the factories/establishments and to wages drawn up to 24000/- pm by an employee.
It requires employer to define wage period which will not exceed a month.
The last day for paying wages is 7th day or 10 the day from the close of the wage period where employee strength is less than 1000 and more than 1000 respectively.
For more compliance, please refer to the latest text of the Act/Rules
Regards,
Vinayak Nagarkar
HR- Consultant
From India, Mumbai
Your query falls within the ambit of the provisions under the Payment Of Wages Act, 1936 and its recent amendments.
The act applies to the factories/establishments and to wages drawn up to 24000/- pm by an employee.
It requires employer to define wage period which will not exceed a month.
The last day for paying wages is 7th day or 10 the day from the close of the wage period where employee strength is less than 1000 and more than 1000 respectively.
For more compliance, please refer to the latest text of the Act/Rules
Regards,
Vinayak Nagarkar
HR- Consultant
From India, Mumbai
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