Pvt. Co. -Salaries
We pay salaries starting from Rs.3000 onwards to Rs.10000 to our employees in cash we pay PF, ESI, PT appropriate amounts as well. Now pls suggest me whether we can pay salaries in cash by taking a employee's sign on a voucher or should each employee have bank account opened in their name. pls suggest me whether having a bank account in the name of employee is compulsory. can we pay salaries in cash or if suppose salaries exceeding Rs.20000 are to be routed only thru a bank account. pls suggest.
CAclubindia
