Seniors please tell me what is the statutory day for disbursing salary of a company. Is there any statutory sealing of salary in this regard? What is the rule for payment of salary/wages.
Vijayakrishnan
Dear Vijayakrishnan,
As per the Payment of Wages Act 1936, due date of salary is within 7 days after completion of the month, if the number of employees are below 1000. If the number of employees are 1000 or above, payment should be within 10 days.
The ceiling of salary as per the Payment of Wages Act w.e.f 8.8.2007 is Rs. 10,000.
Abbas.P.S
Dear Vijayakrishnan,
By law, the protection is only upto a salary of Rs. 10,000.
Abbas.P.S
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