1. #1
    Unregistered

    Is it necessary to create a separate Bank account for Salary deposit from company or we can give the details of the bank account which we already have?

    I am going to join in a company by next week but I am not quite sure whether I have to create a new Bank account before joining, Can you tell me what is the formalities which will be followed for handling the Salary? so that I can be prepared before joining, Do I have to create a separate Bank account for Salary deposit from company? or I can give the details of the bank account we have for savings etc. purpose?

  2. #2
    Chittaranjan Array
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    Lightbulb Re: Is it necessary to create a separate Bank account for Salary deposit from company or we can give the details of the bank account which we already have?

    Now a days most of the companies pay their salaries through by way of cheques,a/c transfer,cash,etc.
    Under the situation if company issues cheques in the name of employee then you need not to open separate a/c.If the the company transfers salary direct debit companies a/c and credit employees a/c in the same Branch or same bank by way of attached alongee then your S.B.a/c must be opened or to have with the same Br.or bank often Bank credit employees salary eletronically then you must have a a/c with any bank.

    Thank You,

  3. #3
    Puru Thaman Array
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    Re: Is it necessary to create a separate Bank account for Salary deposit from company or we can give the details of the bank account which we already have?

    Hi,



    --Fine its Up To your Choice--


    --You can Decide according to your Convenient--


    --Nowadays most of the Private Concern have their Individual Banking Process for the Employees--


    --If you wanna open new Account you can proceed with your Proof--


    --If not you can Update your HR of your Existing Savings Account--


    --Some Advantages of Organization Preferred Bank is the Salary will be Dispatched on same day of existing holders--


    --Whereas in Case of other Bank Holders they may Issue Cheque in Most cases::


    --Many Private Banks like HDFC, ICICI, & AXIS Banks Avail Easy Loan & other enhanced Features for the Corporate Account Holders--



    _)(_Thanks_)(_

  4. #4
    sairam6 Array
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    Re: Is it necessary to create a separate Bank account for Salary deposit from company or we can give the details of the bank account which we already have?

    hai friends

    at present all the banks are maintains separate bank ,according to their convent

    so you much open a new account ,when your joining in the company

    the company will definite ask to open a new account according to the convent

    so only in some companies will credit the money in your already savings account

    at present the companies are preferring banks like

    ICIC

    AXIS

    HDFC

    IDBI

    SBI

    the companies will debit the money at a time to all the employer's in the companies

    so the company will definite ask you to open a new account

    if the company asks to open a new account ,means give the voter id ,ration card,company id card to the bank

    hope this information helps you

    good luck

  5. #5
    bsr Array
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    Re: Is it necessary to create a separate Bank account for Salary deposit from company or we can give the details of the bank account which we already have?

    Hi,
    First of all congratulation.Don't worry about bank account creation.It is HR people work they will take care.Just carry what they mentioned through mail or through phone.Everything they will take care.

    It is better to have seperate salary account.Some banks offerloans easyly for corporate accounts.So don't waste your time enjoy.

    All the best!!

  6. #6
    Arjun Array
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    Re: Is it necessary to create a separate Bank account for Salary deposit from company or we can give the details of the bank account which we already have?

    Dear, friend it is depend upon your choice if the company which you going to join is asking for the new account then you can open a new account. If they don't ask any things about the account then you can provide your previous saving account to your Hr. Manager. With Thanks

  7. #7
    yogesh Array
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    Re: Is it necessary to create a separate Bank account for Salary deposit from company or we can give the details of the bank account which we already have?

    Hi friendIt is your choice that you want a account for a job.Dear it will be helpful if you open new bank account for saving the selary. In case of any mis entering of detail or delay in selary that's all records will be safe.Private banks have very fast speed in transfering the money from one account to other-HDFC,ICICI,AXIS,IDBI,OR GOVT-SBI,BOB,PNB.You can have both a/c of same banks but branch will be differ.So You must be deposited your other money in your saperate account from selary a/c.All the very best for saving money.

  8. #8
    abbebo Array
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    Re: Is it necessary to create a separate Bank account for Salary deposit from company or we can give the details of the bank account which we already have?

    Hi. First of all Congrats on your new job.I dont think you should worry about this problem .Most of the companies will make you open a new bank account. They will tell you to do so if they want. Otherwise you can give the details of your present bank account as most of the companies give salaries via cheques these days.


    Dont take unnecessary stress on this issue. For more clarity contact your company officials or colleagues. They will surely help you in this regard.


    Best of luck. Thanks

  9. #9
    prabhu Array
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    Smile Re: Is it necessary to create a separate Bank account for Salary deposit from company or we can give the details of the bank account which we already have?

    Hi,


    This is absolutely essential to be known . Good that you known these formalities

    Many freshers doesn't know these information

    Mostly in IT companies , several banks come to the campus and provide free salary accounts with 0 balance maintanance

    Its good to open a salary account in HDFC bank

    HDFC bank has more benefits . Debit card , cheque and Credit card is offered in shorter period

    If HDFC bank is not there , you can go with other banks

    Also reimbursement account is also opened to get claim medical amount from the company if any

    Dont link savings account with salary accounts

    Provide 3 copies of phot , Address proof , pan card , ID proof

    2 Photocopies of the above is a must

    Pass this information to all



    Thanks !!!!

  10. #10
    SKS Array
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    Re: Is it necessary to create a separate Bank account for Salary deposit from company or we can give the details of the bank account which we already have?

    You dont need to open a new Bank account on your own or give your existing bank account details.

    Almost all the companies today credits the salary directly to their employees bank accounts.
    Most of the Companies have either tie up with one bank for salary account and few companies have tie up with many banks for salary account.

    When you go to the company on the date of joining they will ask you to fill the bank account opening forms.
    You just need to give your KYC Documents (Passport size photograph, ID and Address proof) for opening the bank account.
    Company will help you to open a new BANK ACCOUNT.

  11. #11
    Dreams Array
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    Re: Is it necessary to create a separate Bank account for Salary deposit from company or we can give the details of the bank account which we already have?

    Hi

    yes its nessesary to make your separate account for your salary.

    coz its easy to make all of you salary.

    if 100 peoples are in your company and they have diffrent accounts in

    diffrent banks so its quite difficult for them.

    thats why company ask for a separate account.

  12. #12
    Param Array
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    Re: Is it necessary to create a separate Bank account for Salary deposit from company or we can give the details of the bank account which we already have?

    Dear Friend!

    Mostly companies provide employees salaries by their salary account or cheques. But Salary transfer to another salary a/c or your account its depend on company's policy. They decide about this. If they provide salary their employees salary account and if you want to your another account, You need to collect your salary by cheques and deposit to your account to which you want.

  13. #13
    G.one Array
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    Re: Is it necessary to create a separate Bank account for Salary deposit from company or we can give the details of the bank account which we already have?

    Every company has made mandatory to every employees to provide the complete details of the bank account so that an salary would be deposited of that respective employee on time. Depositing salary in bank account acts as a proof for both the employee and company whether salary has been paid or not. Generally many companies asks their employees to open the bank account in the respective bank where the company has their own account. Through this the banking transaction becomes fast and easy. Even it helps to take the loan some banks also provide the facility for that. So contact the HR of your company and ask him the companies policy regarding the bank account and details to get submitted.

  14. #14
    Sai Deep Array
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    Re: Is it necessary to create a separate Bank account for Salary deposit from company or we can give the details of the bank account which we already have?

    Hello,

    If you are going to join a new company then dont worry about the bank account.

    The company will provide you with a bank account.

    Generally the companies have tie-up with the banks where you have to create a new account with that bank.

    That will be your salary account .

    The salary will be credited to that account and you can withdraw your salary from.

    they will do all the formalities.

    You have to fill a form giving all your details with a passport size photo and thats all.

    Thank you

  15. #15
    neha agarwal Array
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    Re: Is it necessary to create a separate Bank account for Salary deposit from company or we can give the details of the bank account which we already have?

    Hi,

    Now a days each and every company has a tie up with some banks to get open the saving accounts for the newly hired employees on zero balance to get credited the monthly salary of them. On the very first day when you will join the company your induction program will going on. In that program, HR representative of the company will let you know so many things about the company, also HR will let you know that we have tied up with 2 or 3 banks like ICIC, HDFC etc. The representative of banks will be coming in some time and you can open your account with any one of them as your salary account or if somebody has already their account with the mentioned banks then they can provide the account no. to our HR also via email to update it. So you don't worry about it, be cool.
    The bank names which they will mention, among them if you have already your account then either give your account no. or if you want to open a new account with some other bank then you can do the same also. Its totally up to you.

  16. #16
    Boss Array
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    Re: Is it necessary to create a separate Bank account for Salary deposit from company or we can give the details of the bank account which we already have?

    Now a days most of the businesses pay their salaries through by method of cheques,a/c transfer,cash,etc.
    beneath the case if company problems cheques within the name of worker then you would like to not open separate a/c.If the the corporate transfers wage direct debit firms a/c and credit workers a/c within the same Branch or same bank by method of connected on then your S.B.a/c should be opened or to possess with a similar Br.or bank usually Bank credit workers wage electronically then you need to have a a/c with any bank.

    It is your selection that you just desire a account for employment.Dear it'll be useful if you open new checking account for saving the wage. just in case of any mis coming into of detail or delay in wage that is all records are safe.Private banks have in no time speed in transferring the cash from one account to other-HDFC,ICICI,AXIS,IDBI,OR GOVT-SBI,BOB,PNB.You can have each a/c of same banks however branch are disagree.So you need to be deposited your alternative cash in your separate account from wage a/c.All the absolute best for saving cash.

    Almost all the businesses nowadays credits the wage on to their workers bank accounts.
    Most of the firms have either traffic congestion with one bank for wage account and few companies have traffic congestion with several banks for wage account.

    When you visit the corporate on the date of connexion they're going to raise you to fill the checking account gap forms.
    you only have to be compelled to provide your KYC Documents (Passport size photograph, ID and Address proof) for gap the checking account.
    Company can assist you to open a replacement checking account.

  17. #17
    VonsVishakha Array
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    Re: Is it necessary to create a separate Bank account for Salary deposit from company or we can give the details of the bank account which we already have?

    Dear friend,

    You can definitely use your current working account for the salary purpose.
    Companies generally don't mind taking your existing account and making the salary payments provided the following conditions are satisfied.

    - the account should not be merged with any other transactions.
    - your PAN card should be attached with it.
    - the account should not be a joint account.
    - it should be in the bank your company has collaborated with.

    Thanks

  18. #18
    ashu_krish Array
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    Re: Is it necessary to create a separate Bank account for Salary deposit from company or we can give the details of the bank account which we already have?

    Hello Guest
    You can surely do it but there is a problem of ceasing your account . If any case of mishandling occurs in the bank or problem caused by you then the bank may cease your account so the salary money plus your capital would completely ceased . So try to avoid it .
    Hope the information was useful...
    Thank you

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