Source: News Bharati English12 Dec 2016 16:00:46
New Delhi, December 12: In a move to push digitalization and curb demonetization issues, Centre has decided to pay salaries of the Industrial employees through cashless mode. The cashless payments will affect millions of workers working in factories and industries as they will be paid through cheques and bank transfer. Discontinuing the age-old practice of paying hand-to-hand will be a positive notion towards the digital India movement where even the daily wage workers will contribute to a cashless economy.
Under the Payment of Wages (Amendment) Bill, 2016, the salaries will be given in a cashless mode so as to keep a regular check on the wages. The bank transfer will help the Centre to monitor over the minimum wages which have been assigned to the workers/employees by Centre, State as well as government units. The soon-to-be-proposed Bill will include only those employees whose minimum wage is up to Rs. 18,000 and salary exceeding to it will be levied to a tax.
The mandatory rule for having cashless payments will first be implied on railway employees, then moving on forward to air transport services and mines along with oil fields. The norms will be applicable in a direct manner or through sub-contractor basis.
The proposal of opening a Jan Dhan Yojana account will now be very helpful for such cashless payments as those who have already opened an account will receive salaries via direct transfer in banks. For those, who have not yet opened Jan Dhan, may take this as a good reason to take a leap towards financial inclusion. States like Haryana, Andhra Pradesh, Uttarakhand, Kerala, Punjab, etc, have already taken a step forward for cashless economy henceforth urging the industrial employees to receive salaries through cheques or bank transfer so as to maintain the transparency.
The payment of salary in cheque of bank transfer is in line with the government's efforts to promote a cashless economy in the country.