Salary Advance Policy and Format
hr
Axis Electrical Components (I) P. LTD.
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vkanbur
Harshada
Salary advance is a pure accounting procedure.
Employees are given salary advance to overcome urgent financial need.
It is usually around 90% of the monthly take home salary and the same is re covered immediately in the subsequent month’s salary, without any interest.
This is not covered under any law and purely left to organizations.
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ns....@asianpaints.com
The position is you cannot recover 90% of the salary in a month. Payment of Wages Act, 1936 clearly communicates this.
Regards,
Iyer NS
General Manager - Human Resources
Asian Paints Ltd
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| From: | vkanbur <vka...@vsnl.net> | |
| To: | 'hr' <h...@axis-india.com>, humanc...@googlegroups.com | |
| Sent by: | humanc...@googlegroups.com |
Harshada
Salary advance is a pure accounting procedure.
Employees are given salary advance to overcome urgent financial need.
It is usually around 90% of the monthly take home salary and the same is re covered immediately in the subsequent month’s salary, without any interest.
This is not covered under any law and purely left to organizations.
Regards,
Vijay Kanbur
Cell: 9821112405 EMail: vka...@vsnl.net
From: humanc...@googlegroups.com [mailto:humanc...@googlegroups.com] On Behalf Of hr
Sent: Friday, April 09, 2010 11:34 AM
To: humanc...@googlegroups.com
Subject: [Human Circuits] Salary Advance Policy and Format
Dear All,
Please help me with salary advance policy and format with your respective organizations.
Also kindly guide me if there are any legal / labour law related issues involved in Salary advance.
Thanks
Thanks & Regards
Harshada Bandiwadekar
Axis Electrical Components (I) P. LTD.
For our email disclaimer please visit http://www.asianpaints.com/disclaimer.aspx#email
alka....@orixindia.com
This not recovery , but adjustment of salary advance and very much permissible..
Payment of wages says you cannot make deductions exceeding 50%. this is not deduction . It is not a recovery of loan etc.
Regards,
Alka Saxena
Head Human Resources
ORIX Auto Infrastructure Services Limited
Tel : +91 22 6707 0100 Extn. : 290
Fax : +91 22 28528549
alka....@orixindia.com
| <ns....@asianpaints.com>
Sent by: humanc...@googlegroups.com 12/04/2010 12:25 AM |
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The position is you cannot recover 90% of the salary in a month. Payment of Wages Act, 1936 clearly communicates this.
Regards,
Iyer NS
General Manager - Human Resources
Asian Paints Ltd
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vkanbur
If it is loan – than that rule is applicable
If it is advance – you can recover 100%.
Harshada asked for salary advance policy -FYI
neha kanodia
neha kanodia
Employee may receive a salary advance up to the estimated amount of
the next pay earned at the time of Request( Based on the no. of the
days worked)
There is no standard Advanced salary format.It vary from company to
company.It totally depend upon the company policy.
In accordance with requirement in State Administration Manual section
8595,all salary advanced must be deducted or pay in full from the very
next warrant or direct issued to the employee.
Regards,
Neha Kanodia
On Apr 9, 11:03 am, hr <h...@axis-india.com> wrote:
> Dear All,
>
> Please help me with salary advance policy and format with your respective organizations.
>
> Also kindly guide me if there are any legal / labour law related issues involved in Salary advance.
>
> Thanks
>
> Thanks & Regards
>
> Harshada Bandiwadekar
> Axis Electrical Components (I) P. LTD.
>
> ------------------------------------------------------
> Axis Electricals Components (I) Pvt Ltd, Mumbai, India
>
> company-logo.gif
> 4KViewDownload
ns....@asianpaints.com
Dear Kanbur,
Any recovery. Ultimately the principle is that the workman receives a certaon amount to live through the month.
Regards,
Iyer
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