Bank Account opening

Process Overview

<p><span style="font-size:small;">You need to get the bank account open for new joiner so that salary, reimbursement, incentive etc can be transferred there. You can tie up with any of the banks which suits to your requirement. If you have localized operations then choose the bank which has better connectivity in your area or in case of pan India operations, find the bank with the national presence. Now with a facility for accessing any bank ATM has reduced our pain in selecting a bank as the employee can withdraw money from any bank ATM. Sometimes, due to a pressure of opening the bank account for the large number of employees located across India, especially in case of mass hiring, we go with KYC (Know Your Customer) arrangement with a bank. In this case, an employee needs not to submit any ID proof, to get the bank account open. Only some banks provide this facility. But I would strongly oppose this practice. Please ensure that your employee does submit ID and Address proof to get the bank account open. Tomorrow, in case, bank account opened by KYC method, where you have attested and signed the bank form on behalf of an employee, found involved in illegal activities, you can also be in trouble.</span><br /><span style="font-size:small;">Coordination with Admin and IT</span><br /><span style="font-size:small;">ws.</span></p>