Bank Policy and Employer Agreement

• An individual can have only one active salary account per employer.
• Each salary account is linked to a specific employer-bank arrangement.
• Opening multiple salary accounts with different banks requires separate employer authorizations.
• Banks assign salary account benefits based on verified employment status.
• Without employer involvement, additional accounts function as savings accounts.

Multiple Salary Accounts from Multiple Jobs

• If a person works for more than one employer, they may have separate salary accounts with each.
• Each employer must initiate account creation independently.
• These accounts remain salary accounts as long as regular salary is credited.
• Banks verify employer payments to maintain salary account status.
• All accounts are subject to conversion if salary stops for a few months.

Limitations and Conversions

• A person cannot self-declare a second salary account for benefits.
• If salary stops in one account, the bank may automatically convert it to a regular savings account.
• Post-conversion, standard charges and minimum balance rules apply.
• Banks monitor credit patterns to identify and update inactive salary accounts.
• Only one account can typically hold zero-balance privilege per employer.

Account Maintenance Responsibility

• The account holder must track salary credits in each account.
• Maintaining multiple accounts may require meeting multiple balance requirements after conversion.
• Updating KYC and nominee details is necessary in each account.
• Accounts not in use should be closed to avoid dormant status.
• Salary redirection requests must be confirmed by the respective employer.

Bank Verification and System Updates

• Banks check for duplicate salary account requests using PAN and employment details.
• Salary benefits are assigned after employment proof validation.
• Conversion, freeze, or rejection may occur if terms are violated.
• Customers should coordinate with HR and the bank before initiating another salary account.
• System flags prevent misuse of salary account privileges across multiple banks.