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deposits in firm

This query is : Resolved 
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(Querist)
09 May 2011 can an employee in a firm who is getting salary show his deposits in firm and can he take interest from firm on this deposits
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Amol Gopal Kabra (CA,CS,DISA)

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Amol Gopal Kabra (CA,CS,DISA) (Expert)
13 May 2011 Yes. But if the deposit exceeds Rs.20000, then the firm needs to take it by way of cheque only.
The employee can have deposits with the firm and earn interest on it.

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