Query related to Cash withdrawal from my company account

[Kapil Taneja]

I have a restaurant and some workers wants cash payments, but I don't generate cash sales. Can I take out money from ATM from my company account and pay them in cash ?

 

Is this allowed?

or this is not allowed?

[shoptillyoudrop]

You're not allowed to pay salaries cash (since 2016!!), so that's a bad idea.

Just transfer the money by bank.

 

 

 

 

[Roel J]

There is a slight nuance. the minimumwage must be paid thru the bank. amounts above min wage are allowed to pay in cash (but must be cleary stated how on the salary slip how the payment was done per payment method..

full information in this link (please use google translate or other tool to translate into English)
https://www.rijksoverheid.nl/onderwerpen/aanpak-schijnconstructies/maatregelen-tegen-schijnconstructies

 

translation of one part of the site:
______________
Mandatory payment of minimum wage via bank

 

Employers are not allowed to pay the statutory minimum wage (WML) in cash, but must do so via the bank. Any employee who earns more than the minimum wage may be paid in cash by the employer. The employee can authorize the employer to transfer the full salary to another bank account. For example, to the account of a debt counselor.

_________________________

[claude4]

On 17/01/2024 at 19:56, Roel J said:

There is a slight nuance. the minimumwage must be paid thru the bank. amounts above min wage are allowed to pay in cash (but must be cleary stated how on the salary slip how the payment was done per payment method..

full information in this link (please use google translate or other tool to translate into English)
https://www.rijksoverheid.nl/onderwerpen/aanpak-schijnconstructies/maatregelen-tegen-schijnconstructies

 

translation of one part of the site:
______________
Mandatory payment of minimum wage via bank

 

Employers are not allowed to pay the statutory minimum wage (WML) in cash, but must do so via the bank. Any employee who earns more than the minimum wage may be paid in cash by the employer. The employee can authorize the employer to transfer the full salary to another bank account. For example, to the account of a debt counselor.

_________________________

Ensuring that the minimum wage is paid through bank transactions promotes transparency in financial transactions. It allows for a clear record of payments and can aid in preventing potential disputes between employers and employees.

[claude4]

On 17/01/2024 at 19:56, Roel J said:

There is a slight nuance. the minimumwage must be paid thru the bank. amounts above min wage are allowed to pay in cash (but must be cleary stated how on the salary slip how the payment was done per payment method..

full information in this link (please use google translate or other tool to translate into English)
https://www.rijksoverheid.nl/onderwerpen/aanpak-schijnconstructies/maatregelen-tegen-schijnconstructies

 

translation of one part of the site:
______________
Mandatory payment of minimum wage via bank

 

Employers are not allowed to pay the statutory minimum wage (WML) in cash, but must do so via the bank. Any employee who earns more than the minimum wage may be paid in cash by the employer. The employee can authorize the employer to transfer the full salary to another bank account. For example, to the account of a debt counselor.

However, allowing amounts above the minimum wage to be paid in cash brings flexibility for employers. To further enhance this system, I recommend checking out ICOHolder for comprehensive insights into innovative financial solutions. Their platform provides valuable information on various financial technologies and could potentially offer additional perspectives on optimizing wage payment systems while maintaining transparency.

_________________________

This proposal introduces an interesting approach to minimum wage payments, emphasizing transparency and accountability. Mandating the minimum wage to be paid through the bank ensures a streamlined process and helps in tracking financial transactions efficiently.