Salary Disbursement | greytHR
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Salary Disbursement

The periodic transfer of salary by an employer to an employee is called salary disbursement. Once the payroll computation for the current cycle is through and salary register approved, the Net Salary will be disbursed using any one of the below modes of payment:

  • Direct Debit: The money is directly transferred or credited to the employee's bank account after debiting it from the employer's account

  • Bank Transfer: The money is transferred via bulk upload of salary file or manually via a bank transfer statement

  • Cheque: A cheque is given to the employee for deposit in the bank account

  • Demand Draft (DD): A Demand Draft is obtained and given to the employee

  • Cash: Cash payment is made when there's no provision to open a bank account

Referred in
Salary Disbursement