Saturday, February 14, 2015

Remittance of salary outside India - clarifications

RBI has clarified that remittance of salary outside India can be allowed even for an employee who is deputed to a group company in India, and also for foreign employees of Limited Liability Partnerships in India.  A copy of their notification clarifying this aspect can be found here i.e. http://www.rbi.org.in/scripts/NotificationUser.aspx?Id=9509&Mode=0

The remittance is allowed to the extent of 100% of salary as per this notification i.e. http://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=5462&Mode=0.
This is in respect of a foreign citizen resident in India, employed with an Indian company, they are allowed to hold foreign currency account with a bank outside India and remit their salaries to this account 

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