Company Forcibly Giving Shares Instead Of Salary - Legal Action? - CiteHR
Ukmitra
Business Development, Employee Relations,
Tushar.swar
Manager - Human Resource
Tajsateesh
Recruitment/talent Acquisition, Career Counselling
+1 Other

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My company is not paying anybody salary for last month and they are still delaying it. And For some employees including me they are forcibly giving shares instead of salary for next 3 months. What legal action we can take?
Dear Sumit,
for Labour catagory they can file compliant to Regional Labour Dept. about the same under the Payment of wages act.1936.
for executive & Above level, can file civil case in court.
Regards,
Tushar Swar

Hi Sumit,
Can you be more specific. "Company Shares". Public Listed company shares or Employee Stock Ownership Plan (ESOP). Please provide as much as info you can. Its a very interesting case.
Ukmitra

Hello Sumit Bakshi,
Further to the clarification sought by Ukmitra, pl also give more details:
1] The reason(s) AS GIVEN by the Company for this step.
2] In which Sector is your Company?
3] What's the employee strength?
4] What's the Financial status of the Company? NOT as conveyed by the Management by as per EMPLOYEES' perception? This would be important--as it's possible that the Management is trying to increase the shareholders base--for different reasons ['right' or 'wrong' isn't the issue here].
Rgds,
TS

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