As i mentioned in the comment to the question, i'd suggest to create query based on single select statement (reduce the count of subqueries).
If you want to get first time for the selected date and company, try this:
SELECT MIN(TI.TimeIn) AS TimeIn
FROM tbl_employee EM INNER JOIN tbl_TimeInOutEntry TI ON EM.EmployeeID = TI.EmployeeID
WHERE TI.EntryDate = '2015-03-02' AND EM.CompanyID = 1
Note: Please, follow the solution1 by
Mehdi Gholam[
^] to reduce the count of indexes.