The President must formally resign from Parliament or the state legislature before taking oath.

No resignation is needed — the seat is automatically deemed vacated the moment the person enters office as President, as stated in clause (1).

The President's salary and perks are fixed forever by the Constitution and can never change.

The Second Schedule amounts apply only until Parliament passes a law fixing different emoluments and allowances; Parliament can update these, but cannot reduce them during a sitting President's term.

The Constitution of India

Article 59

Conditions of President's office

(1) The President shall not be a member of either House of Parliament or of a House of the Legislature of any State, and if a member of either House of Parliament or of a House of the Legislature of any State be elected President, he shall be deemed to have vacated his seat in that House on the date on which he enters upon his office as President.§

(2) The President shall not hold any other office of profit.§

(3) The President shall be entitled without payment of rent to the use of his official residences and shall be also entitled to such emoluments, allowances and privileges as may be determined by Parliament by law and, until provision in that behalf is so made, such emoluments, allowances and privileges as are specified in the Second Schedule.§

(4) The emoluments and allowances of the President shall not be diminished during his term of office.§

Why this exists

The framers wanted the President to be a neutral, non-partisan head of state, above the daily push and pull of legislative politics and outside employment. Barring the President from holding a legislative seat or another paying job ensures full-time, undivided, impartial service. Guaranteeing free housing, fixed emoluments, and protection against pay cuts during the term insulates the President financially from political pressure, similar to protections given to judges, so the office holder cannot be squeezed or influenced through money.

Common misconceptions

Myth: The President must formally resign from Parliament or the state legislature before taking oath.
Fact: No resignation is needed — the seat is automatically deemed vacated the moment the person enters office as President, as stated in clause (1).
Myth: The President's salary and perks are fixed forever by the Constitution and can never change.
Fact: The Second Schedule amounts apply only until Parliament passes a law fixing different emoluments and allowances; Parliament can update these, but cannot reduce them during a sitting President's term.