Undertaking Letter From Employee Against Salary Advance

Hello,Below are the details you require:**Advance Salary:** It means if you work for 15 days within a month, then management can approve ad hoc payment (Advance payment) according to the policy. The number of days for ad hoc payment can vary from company to comp...

Hi all,Please advise if one of my employees requested an advance against salary, but his process head will not approve the same, can the said employee go for legal action?Regards,Vinay

Also, another point to note is that in the case of a loan (not against salary), it is not taxable. However, if the loan is interest-free, notional interest will be added to his income when calculating tax.Thanks,

Advance salary or adv. against salary is taxable in the fiscal year in which it is given. The tricky situation arises when it spans across two financial years. The amount taxed in the previous year will be deducted in the following year. In cases where adjustmen...

Mr. Lakshminarayanan,Though I agree with your suggestion, on what basis would a person resign from his current employment without any written assurance of an offer in hand? I have myself tried not mentioning the salary in the offer letter, and it has worked.Rega...

Can any employer ask a candidate post releasing an offer to sign an undertaking that requests the candidate to forfeit any offer already accepted or not to seek out new opportunities in the market.

I suggest that when you interview a person and finally expect him to accept your offer, keep the offer open for a period of one week or 10 days by the date on which he should sign and accept the preliminary office letter. Normally, the company releases such a le...

Hi,Yes, an employer can demand to sign such an undertaking. It is the employer's call! However, while employees who signed the Training Agreement/Indemnity Bond are absconding without any information to the employer, you cannot expect such an undertaking to bind...