I was also facing such kind of problem with my last company. It was also a small scale industry, they were also having some financial problem.
What i did i started searching a new job in a nice & well settled company. Keeping my self in a safe side this time.
Yes, after receiving my offer letter i resigned from there. But still my FNF is pending from last 3 month, part wise they are doing. I always give them a reminder call / message to them .
In this new company i am very happy, getting my salary on time.
Like Jyotshna mentioned, First & Foremost, begin to look for another job ASAP.
While keeping faith & trust in someone--whether it's a Company or an individual--one needs to draw the line somewhere. A sort of trade-off between 'understanding' other's problems & 'pragmatism'--you owe your FAMILY much MORE than the Company.
Since the Company does seem to have GENUINE financial problem, I don't think it will help you in any way to keep harping on the Dues/Arrears. That DOESN'T mean that you need to forget them.
Suggest meet your MD once, discuss with empathy about the Company's problems AS WELL AS your family situation & get something in writing of how much is due to you. IF the financial situation is INDEED bad due to something beyond the MD's control, he would appreciate your step
This will also help you to keep the channels of communication open--after all you are into Sales [guess you know better how this can help you in the long-term].
Since you haven't mentioned the Sector/Domain your Company is into, I can't comment on the prospects about the chances of the Company fortunes reviving--meaning whether it's practical for you to really expect the Dues later-on. Some Sectors are doing badly now.
And to repeat, look for another job ASAP.
All the Best.
Thank you for your suggestion and will be helping me a lot. Tomorrow I am planning to meet my MD and take necessary step and update the same.