I was working in a reputed financial company for the last five years when one day, suddenly, I was given a letter stating a salary cut of 15%, which was effective from the same month as the date of the letter. I signed the copy of the letter and handed it over to the HR person. The very next month, I and some more people were asked to leave the company with immediate effect. Upon asking the reason for such a decision, I was told that cost-cutting was the reason. Since the decision was made in a group, I didn't argue about that matter. I wrote the resignation letter at HR's request.
My Query:
What does the law say regarding the salary part? Can an employer cut the salary for the current month without giving prior notice to the employee? This salary cut will make a huge difference in my gratuity amount, for which I am entitled after a service of 4+ years.
One More Point:
The information given to me while terminating the service due to cost-cutting was totally false, as recruitment is still going on in the company.
Regards
My Query:
What does the law say regarding the salary part? Can an employer cut the salary for the current month without giving prior notice to the employee? This salary cut will make a huge difference in my gratuity amount, for which I am entitled after a service of 4+ years.
One More Point:
The information given to me while terminating the service due to cost-cutting was totally false, as recruitment is still going on in the company.
Regards