Seniors, please tell me what the statutory day is for disbursing the salary of a company. Is there any statutory ceiling on salary in this regard? What is the rule for payment of salary/wages.
As per the Payment of Wages Act 1936, the due date of salary is within 7 days after the completion of the month if the number of employees is below 1000. If the number of employees is 1000 or above, payment should be made within 10 days. The ceiling of the salary as per the Payment of Wages Act w.e.f. 8.8.2007 is Rs. 10,000.
By law, the protection is only up to a salary of Rs. 10,000.
Abbas. P. S
If you are knowledgeable about any fact, resource or experience related to this topic - please add your views. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone. Join To Contribute