Unethical practices in Finance

28/07/2022 0 By indiafreenotes
  • Deliberate abnormal delays in payments to (a) Vendors, (b) Dealers commissions and promotion costs.
  • Delays in paying wages, interest to financiers, incentive, bonus to employees.
  • Holding up bills of vendors on silly reasons and ultimately buying from others to avoid payment to earlier vendors.
  • Not prompt in statutory payments of ESI, PF, Sales Tax and Excise Duties.
  • Cheating employees of their dues towards medical expenses, leave travel assistance, children education fees etc.,
  • Opening of current accounts in different banks to avoid adjustments against loans by earlier banker.
  • Creating bogus bills of purchase to show higher costs and hence losses to avoid bonus payment to employees.
  • Collecting loans from private financiers at higher rate of interest to help kith and kin and to get kick-backs.
  • Quick release of payments to known or adjustment parties and delaying payment to others.
  • Taking private finance only from those who are ready to do personal favours to the finance department head.