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02 December 2021

Conditions to be respected in case of salary payment through banks

Written by Brodsky Uskov Looper Reed & Partners
Tax and Finances, Tax and Finances Comments are off

Labor law explicitly states that the payment of salary through banking institutions is allowed only with the employee’s written consent. The employers pay the expenses incurred in connection with the salary payment through the banks.

The salary is to be paid only in national currency, and the law prohibits the salary payment in kind (e.g., payment in goods produced by the legal person).

Recommendation: Insert a clause in the individual employment contract that provides salary payment through the banks if you opt for this option.

The Labor Code can be accessed at the following link (art. 141).

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