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.
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