Dear Rishab,
In my opinion, as per recent government guidelines, it is mandatory for the company to pay the salaries of the employees. The government has issued directions under the Disaster Management Act only for the period of lockdown. Hence, if a suit is initiated against the company, it will stand in the court of law.
However, you have to look at the long-term prospects with the company. With a perceived recession in the economy, the company will be rationalizing staff in the near future. The general trend in most corporates is that there is a mutual reduction in salary taken up by the managerial category. Therefore, initiate an unofficial discussion first with the company for some pay cut, say 50%, and if agreed, only then communicate the acceptance formally.
Regards