Dear Sir/Madam,
Please note that i have been working a Pvt. Ltd. Company since 2012 and looking after the HR/Admin. of the organisation. Its very unfortunate to state that company has not paid salary to its employees for last 8-10 months resulting high attrition level but till date more than 100 employees are still on payroll. Company has also not paid bonus/ex gratia for last 2 financial year. It is also a defaulter in fulfilling & paying PF/ESI and other statutory compliances. Various cases like 7A, 14B and others are still pending in several offices.
The management is about to declare that company is running in loss and we are in the verge of winding up as it has already started selling its assets. As far as employees pending salaries and other emoluments are concerned the management is simply raising hands by stating we do not have any fund to pay anybody.
Various meetings/gheraos are in vain as we do not find any suitable answers from the management regarding receiving of our legitimate dues. We presume any fine day the company may be locked by the owner and the employees will be of nowhere.
As far as Labor office/PF office etc are concerned various cases are filed but no fruitful results are expected as buying time is as simple for my management.
We hereby request you to kindly guide us the exact path in which we shall proceed enabling us to get our hard earned monies.
6th August 2019 From India, Kolkata
Dear friend,
Where is there is a will there is way, you can find so many inputs in our renowned websites. Some excerpts which I found may be useful for your guidance.
https://www.citehr.com/439111-bonus-...nder-loss.html
https://www.citehr.com/310009-compan...-practice.html
https://www.citehr.com/481415-what-s...yments-if.html
7th August 2019 From India, New Delhi
Dear friend,
The facts that the Company has got 100 or more employees still on its roll, salaries of the employees are overdue for months together, pendency of legal proceedings against the management for non remittance of dues to ESIC,EPFO etc, frequent representations and agitations of employees about their dues go simply unheeded by the management, disposal of some of the assets under the guise of funds mobilization and the absence of any concrete efforts by the management to remedy the situation are indicative of the management's firm decision to allow the Company to die a natural death.
Under these circumstances, my suggestion to the existing employees including the poster would be only to seek alternative employment and resign forthwith and file claims in the appropriate forums for the pending dues like salary, gratuity etc. I don't think that the creditors like banks, other financial institutions would sit their legs crossed but initiate recovery proceedings through the concerned fora. In such a situation the Company would be ordered to be wound up and liquidation process would be set into motion wherein first charge could be created against the employees' dues.
It is wise to jump out of a ship before it gets starting to sink!
7th August 2019 From India, Salem
Add Reply Start A New Discussion

Cite.Co - is a repository of information created by your industry peers and experienced seniors. Register Here and help by adding your inputs to this topic/query page.
Prime Sponsor: TALENTEDGE - Certification Courses for career growth from top institutes like IIM / XLRI direct to device (online digital learning)





About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2019 Cite.Co™