Section 5(8) in The Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2015
(8)(i)A citizen of a foreign State, resident in India, being an employee of a foreign company or a citizen of India, employed by a foreign company outside India and in either case on deputation to the office/ branch/ subsidiary/ joint venture/ group company in India of such foreign company may open, hold and maintain a foreign currency account with a bank outside India and receive the whole salary payable to him for the services rendered to the office/ branch/ subsidiary/ joint venture/ group company in India of such foreign company, by credit to such account, subject to payment of taxes, as applicable in India.(ii)A citizen of a foreign State resident in India being in employment with a company incorporated in India may open, hold and maintain a foreign currency account with a bank outside India and remit the whole salary received in India in Indian Rupees, to such account, for the services rendered to such an Indian company, subject to payment of taxes, as applicable in India.Explanation. - For the purpose of this sub regulation, the expression 'company' shall include a 'Limited Liability Partnership' as defined under The Limited Liability Partnership Act, 2008.
