Centre Urges Banks To Open Accounts of Temporary/Contractual Employees

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Centre Urges Banks

In the verge of demonetization, Narendra Modi-led centre has urged and pleaded Central and State banks to open accountsof temporary and contractual based employees eventually paying them through the opened accounts. The respective step comes as a push towards financial inclusion from base standards where not only urban public but people belonging to remote areas as well as villagers be beneficiaries of the sole motto of having ‘Digital India‘.

Moreover, depositing the salaries in accounts will bring transparency between daily wagers and pay along with keeping a plausible track of tax evasion. It has now become compulsory to ensure that the wages are given to the employees especially who are contractual or temporary workers so that they receive the amount properly as well as timely. The top level employeror employee’s head has been asked to open bank accounts in any of the state or government run banks so as to keep an attendance of the transactions.

At present, as much as 2,700 crores INR have been transacted via JanDhan accounts since the announcement of demonetization along with people claiming that their family income is not even worth of such huge amount transfer. Jan Dhan Yojana helps low-income people to deposit money in a safe place so that tax evasion is in anappropriate manner. Also, as per the announcementmade by the Centre the work should be done by the end of the current month or by the first week of the next month. The employees should be taken to the nearest branch of the bank hence opening an account for future transaction purposes.

The order comes from the approval of the Centre along with Ministry of Labour and Employment SecretaryM Sathiyavathy along with Chief Labour Commissioner AK Nayak.

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