Additional Sessions Judge R N Manjgaonkar also slapped a fine of Rs 10,000 on the convict, Angad Shamsher Bahadur Singh.
Additional Public Prosecutor Deepak Tare told the court that Singh worked with the victim Kaildeo Vishwanath, then 28.
The two lived together in Boisar. There was a dispute between the two over Vishwanath failing to make the payment of around Rs 5,000 to Singh, added Tare.
On June 16, 2013, Singh decapitated Visawanth and killed him on the spot, the court was informed.