If salary paid above rs.5000/- without affix revenue stamp it is valid or not..?

V Naga Prasad (Querist) 21 July 2015 This query is : Resolved
Respected Sir,

I am V Naga Prasad, doing audit and looking & verifying the payment vouchers of the companies.

Kindly provide your valuable suggestions in the below mentioned points :-

1. Some Employees cash salaries are paid above Rs.5000 without affix the revenue stamp on the voucher, but taken the signature from the employees on the petty cash payment voucher. It is Valid or not...?
2. Is there any option to those employees
can says that "Salary not received from the company" due to lack of the revenue stamp on the voucher...?
3. Can we prove the vouchers and signatures are valid and payment made to the employees are correct or not...?

Kindly advise.

Follow Query

Report Abuse

Guest (Expert) 21 July 2015
Just think, if you are not trying to make hill out of a mole?

Anyway, please clarify the following points:

1) Are you doing audit on behalf of the management or on behalf of the CA, appointed as auditor on Board Resolution?

2) Was the petty cash payment to employees the part of salary or any other charge?

3) What is the explaination of the management on your observation?

Rajendra K Goyal (Expert) 21 July 2015
Author need to reply the questions from the expert.

Deficiency in stamp fee may be made proper by payment of penalty as decided by the competent authority.

Kumar Doab (Expert) 21 July 2015
This is subsequent to valid observations made by Shri P.S.Dhingra.

Title of your query is:

"If salary paid above rs.5000/- without affix revenue stamp it is valid or not..?"

If the wages of the employee is upto Rs.18000/pm then the employee would be covered by def. of Employee and as per def. of wages in the following Acts, and salary/wage slip should be issued atleast a day before the fixed disbursement of wages...........and should be signed by employer and employee:

Payment of Wages Act;Sec13A

Min.Wages Central Rules; 26(3,4)

Hence if the said document is not just any voucher and payment made is for wages/salary then it has to be a proper wage/salary slip...............

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries