We work for a startup with around 250 employees across 4 - 5 locations in India. The company runs on funds which have stopped coming for few months since management couldnt achieve the targets.
The management has not been paying salary since May. The salary of May was paid in the next month. That too only 70%. Since then nothing has been paid. Few employees who create issue get paid at times in small amount. Also PF and TDS deducted from salary has not been deposited in employee accounts. The CEO simply comes to office, spends sometime and walks off. He promises to pay off every 20 days saying funds are expected which never come.
Also while employees are not paid for 3 months and even more few have been asked to leave and now company decided to retrench further without giving any money. The Full and Final settlement statement has no date mentioned on it. When employees ask for a date a satisfactory reply is not provided.
No one raises voice for fear of loss of money for all these months which is pending.
What options as employees do we have for current and ex employees ?
That is the process and what pros and cons are there ? From India, Bangalore