Contract to manage cash with exsisting employees
Jayant Kale
(Querist) 18 September 2016
This query is : Resolved
Hello Everybody
Myself Jayant from Dombivili Thane.
I am working in operations of a educational institute having branches all over Maharashtra.
I have around 10 institutes at various locations in Nagpur,Pune and Nashik which are managed by branch managers.
These branch managers are responsible for collection of money from students and send the same to HO in Dombivili.
However in the past we have had a couple of occasions where the branch manager has ran away with the cash.
Although we were able to get the cash back through court cases from such employees we have realised that it is a time consuming and expensive process.
Hence I have proposed to the to avoid any such occurrences in the future my company gets into a legal contract with such employees where in we clearly define the responsibility of all Branch managers with respect to money that shall be received by them from current and prospective students.
My question is that even though all Branch managers are issued a general appointment letter can a new contract be made with them to control the risk of the above mentioned risk.
Please enlighten me.
Thanks
Jayant
Kumar Doab
(Expert) 18 September 2016
Won't it be better to deposit fee in Instt. bank a/c!
Usually printed deposit receipts book is provided to all students/parents.
Guest
(Expert) 18 September 2016
Mr. Jayant,
Risk is quite an uncertain happeming that can occur or arise any time on account of any intentional or unintentional activity or laxity on the part of the branch managers. Your arrangement by issue of merely appointment orders cannot cover any such risk, whereas you have the real risk of embzzlement and misappropriation of money by the managers or even other executives.
In fact, you are required to set up a fool proof sytem to ensure proper accounting and remittance of money by the institutions, besides a proper monitoring and control system at the HQ level.
For that you have the dire need to consult some capable expert by taking personal appointment with him or sending case related documents and details of the past events, including the circumstances leading to such events of the manager having fled away with the money.
Jayant Kale
(Querist) 18 September 2016
Mr Dhingra
Any suggestions besides the obvious....
Guest
(Expert) 18 September 2016
Mr. Jayant,
As desired, any other suggestion is, refer your course material to solve your academic question.
Rajendra K Goyal
(Expert) 19 September 2016
Direct deposit in Companies account with the Bank would overcome the problem.
Payment can be taken through cheque in the name of the company.
Rajendra K Goyal
(Expert) 19 September 2016
Can receive agreement with acceptable references while appointing Managers.
Kumar Doab
(Expert) 19 September 2016
"Any suggestions besides the obvious...."
The options that are safer, better may be pursued.
While such options are available why would an employer want to expose itself, its revenue hence profits, public money and its employee's to risk?
Jayant Kale
(Querist) 19 September 2016
Thanks Rajendra
As for Mr Dhingra I guess any query which you have no answer becomes an academic query.
Hence it is my suggestion to you Mr Dhingra that you if you call yourself an expert refer to your course material regularly rather than giving unwanted advise to others.
We people post our queries to seek help from experts which is legal in nature.
Dont fool yourself and insult us by giving such dimwit replies.
Continue replying Mr Dhingra as I am sure you have lots of free time.
Kumar Doab
(Expert) 19 September 2016
@ Jayant Kale,
May we ask you to not litter nuisance here and mind decorum of the public forum and do not resort to unparliamentary language against a senior expert of the forum!
Rajendra K Goyal
(Expert) 19 September 2016
Dear author,
Please maintain decorum, be nice in your comments. Experts are providing selfless services / sparing time. The effort should be recognized.
If any reply does not suit you, better specify with your query, what reply you expect, if experts agree they can reply otherwise to stay away. But please avoid such comments.
Guest
(Expert) 19 September 2016
Mr. Jayant Kale,
Advice was given for your problem that you discussed. I have given you a fool proof advice, if you adopt with due care and by prescribing a process to act upon.
There is no question of any more suggestions, unless you don't have any doubt on the advice of experts or reveal any additional fact about your problem.
The fact is that, if there is any slightest truth in your story, you want 100% spoon feeding on a commercial problem, the process for which is also to be jotted down by hiring services of some capable professional, instead of depeding on charity. So, your expections for charity are too high.
However, if you are quite sure that your query was not an academic query, you may send scanned copies of the case related documents to me for my examination, analysis and further suggestions.
Now if you don't send the documents, that would confirm my belief that yours was nothing except a hypothetical academic query.
Guest
(Expert) 19 September 2016
comments made by the querist are inappropriate and uncalled for. the morale of the experts is affected by such querists. We are genuinely trying to help people here nd if you are so well off it is suggested that you may kindly hire the services of a lawyer without wasting our time anymore
Rajendra K Goyal
(Expert) 19 September 2016
Agree with the observations from expert Adv Rit Arora.
Devajyoti Barman
(Expert) 19 September 2016
I disdain the conduct of author of the query.
This type of posts should be ignored for reply.
Raj Kumar Makkad
(Expert) 19 September 2016
The behavious of the author of this query is highly objectionable. This is an open challenge to all experts. Admin should strongly take note of this and should block such type of persons who openly indulge in defaming the experts who devote their valuable time free of cost just for charity purpose.
Kumar Doab
(Expert) 20 September 2016
It has been agreed upon many times that Admin of the LCI website may share the ID and details of such Authors/Querists for needful action.
This is in addition to blocking the ID.
Rajendra K Goyal
(Expert) 20 September 2016
A good suggestion from expert Kumar Doab.
Kumar Doab
(Expert) 20 September 2016
Thanks Mr. Goyal.
Altercation, instigation, provocation by anyone at such plate-forms by anyone should be avoided.
Such acts and more so repeated ones, may be carefully watched.
Raj Kumar Makkad
(Expert) 21 September 2016
admin is also not paying any heeds towards the genuine and legal request of the experts so as to maintain the dignity not only of experts but also of this noble site.
Guest
(Expert) 22 September 2016
My observation has proved right about the query to be a hypothetical academic query, as for the last two days he has failed to send the case related documents for my examination. Hypothetical queries don't make any sense for suggesting any solution.
Raj Kumar Makkad
(Expert) 22 September 2016
I do agree with Shri Dhingra ji. As the query is hypothetical, the documents cannot be created.
Sudhir Kumar, Advocate 
(Expert) 24 September 2016
This is free advisory forum and you just cannot dictate as to how your query should be replied.
you are not an examiner and Mr Dhingra is not your student.
Sudhir Kumar, Advocate
(Expert) 24 September 2016
The query related to purely contractual conditions to safeguard future embezzlement of a rich organisation.
Mr Dhingra's first reply was most appropriate.
Kumar Doab
(Expert) 24 September 2016
Exactly;as posted clearly by Expert Mr. Sudhir Kumar also.
Rajendra K Goyal
(Expert) 27 September 2016
Expert Sudhir Kumar ji has well explained the situation.
