[sainathpte]

Hi All,

Assessor asked me to submit bank statements for payment evidence. I have experience of 12 years from 3 companies. Do i nedd to submit the bank statements only for first and last months of employment.

Can some one help here.

Thank you

 

[jags007]

Hi All,

Assessor asked me to submit bank statements for payment evidence. I have experience of 12 years from 3 companies. Do i nedd to submit the bank statements only for first and last months of employment.

Can some one help here.

Thank you

You would need to submit first and last month bank statements of each year of employment..

 

[sainathpte]

You would need to submit first and last month bank statements of each year of employment..

Hi

I have already submitted the payslips and form 16, they are asking for bank statements

 

[nitinksingla]

Hi

I have already submitted the payslips and form 16, they are asking for bank statements

I had submitted authorized Bank statements (stamped by bank) for all the years of employment and highlighted the salary transfer entries (no necessarily required).
Advise is to submit bank statements for the first and last 3 months of every employment.

 

[sainathpte]

I had submitted authorized Bank statements (stamped by bank) for all the years of employment and highlighted the salary transfer entries (no necessarily required).
Advise is to submit bank statements for the first and last 3 months of every employment.

Thanks for your response nitin, can i submit the e statements from bank

 

[nitinksingla]

Thanks for your response nitin, can i submit the e statements from bank

Yes that can be used, provided
1. It shows your full name and address
2. Show the bank's name
3. The details of the transactions are clearly visible.

Cheers

 

[papireddy]

Hi, I have 13 years of work experience and using one bank account only for my salary throughout my employment. My account statement is very huge as I am using the same for daily transactions.
Do I need to submit all months statement which is huge in size and number of pages?
Do we need to have bank seal and notary on all pages of bank statement?

Kindly help with above queries, pls

 

[nitinksingla81]

You need to submit bank statements showing salary credits for 3 months of start and end of each event/job. For your current job show for start of job and last 3 months. Cheers Nitin

 

[papireddy]

Thanks for reply Nitin
Do we need to have bank seal and notary on all pages of bank statement?

 

[nitinksingla81]

No it does not need to be notarized. It should however
1. Should be on the banks letter head or clearly show the name of the bank
2. The statement should clearly mention/ salary credits
3. Should show your full name and address on the statement.

I had submitted softcopies of my bank statement that i downloaded from online banking or received as email and the same were accepted.

Hope this helps.
Cheers
Nitin

 

[nitinksingla81]

If you are submitting estatements they should not be password protected. Best is to print them in another PDF and share those pdf files

 

[papireddy]

Thanks Nitin Employment linked insurance/superannuation documents citing the name of the applicant and employer ===> what documents does this statement mean for employees from INDIA ? could you please help

 

[skreddy08]

Thanks Nitin Employment linked insurance/superannuation documents citing the name of the applicant and employer ===> what documents does this statement mean for employees from INDIA ? could you please help

Do you have form 26AS, if not download that and submit under tax documents. Attach payslips issued by your employer. That should work.

 

[bad_migrator]

I worked at a Startup which ran out of funding. Due to which the last 6 months of employment at that startup was without pay. It was a conscious choice I made because back then we had hope things might work out. Right now, I have no payment to show for those 6 months and it was the last 6 months of employment at that startup. What can I do in this situation? I don't want to lose out on those 6 months as work experience. Any advice?

 

[skreddy08]

I worked at a Startup which ran out of funding. Due to which the last 6 months of employment at that startup was without pay. It was a conscious choice I made because back then we had hope things might work out. Right now, I have no payment to show for those 6 months and it was the last 6 months of employment at that startup. What can I do in this situation? I don't want to lose out on those 6 months as work experience. Any advice?

Without payment and tax evidence, you cannot get employment assessed. Even if you apply, assessor will ask for evidence.

 

[bad_migrator]

Without payment and tax evidence, you cannot get employment assessed. Even if you apply, assessor will ask for evidence.

Can equity be a mode of payment? Is there anything at all I can do like get a letter from the startup CEO stating the same. Or is my only option to not show those 6 months of employment?

 

[skreddy08]

Can equity be a mode of payment? Is there anything at all I can do like get a letter from the startup CEO stating the same. Or is my only option to not show those 6 months of employment?

It's better not to show because working without pay will not be treated as employment. Since you're based in India, you would not have contributed for PF or paid income tax as you did not get paid for those 6 months. Even if you attempt to sell that equity, that would be capital gain not salary.

Moreover, gaining equity through work will be more like a partnership or self-employment but not employment.

 

[bad_migrator]

So that raises two questions.

1) While yes I was not paid a salary, the startup was contributing my PF. I have records where every months that contribution was made by my employer

2) When I joined the startup, they made me a co-founder and gave me equity as well with a salary. Does this mean that my work experience is self-employment and not employment

I worked for a total 2 years at the startup which would help me get more points in the application, Without the 6 months I can only show 1.4. Could really use some insight on what to do here

 

[skreddy08]

So that raises two questions.

1) While yes I was not paid a salary, the startup was contributing my PF. I have records where every months that contribution was made by my employer

2) When I joined the startup, they made me a co-founder and gave me equity as well with a salary. Does this mean that my work experience is self-employment and not employment

I worked for a total 2 years at the startup which would help me get more points in the application, Without the 6 months I can only show 1.4. Could really use some insight on what to do here

1) While yes I was not paid a salary, the startup was contributing my PF. I have records where every months that contribution was made by my employer.
I cannot assure on this but with a combination of payslips and PF statement, may be you can give it a shot provided the PF statement shows both yours and your employer contribution and not just one. May look like something fishy to the assessor if there is contribution from only one. However, many applicants from India provide Form26AS instead of PF statement. Considering that scenario, be prepared for letting that 6 months go if assessor askes for tax statement. Also, I am assuming that with PF contributed, your employer would have generated payslips for that duration.

2) When I joined the startup, they made me a co-founder and gave me equity as well with a salary. Does this mean that my work experience is self-employment and not employment.
Put the equity part aside now and think of salary alone. I mean self-employment if you received only equity but you received salary so the question of self-employment doesn't arise.

 

[rs3001]

My bank e-statements do not show employer's name. But my name/address/id number is there and the transaction message is 'SALARY CREDIT'.

Is it really necessary to have the bank statement mentioning who deposited the money?
I saw a discussion around this in another thread, but I've also seen that some people here have submitted e-statements and I'm doubtful that any bank e-statement would show such details.