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Old 4th February 2010, 11:58   #1
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Default SOS:- Settlement pending, Company is winding up

Hello,

I have a situation on hand, I have settlement pending of my dues with a company and today I came to know that they are winding up the business. I am an Ex- employee, my one month salary and expense re-imbursements are pending. I left the organisation last year in March, and they kept on delaying the settlement. Organisations havenít given me my account statement, but account statement in their books show a balance of X amount to my credit.
Whatís the way ahead?
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Old 4th February 2010, 12:03   #2
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I think that if the dues are statutory in nature (PF, gratuity), the company is legally liable and can be prosecuted for non-payment. But other dues may not get the same protection and you will have to fight it out along with all the other creditors.
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Old 4th February 2010, 12:13   #3
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Is salary a statutory payment?I haven't recieved it.
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Old 5th February 2010, 08:28   #4
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More inputs? Planning to go their office tommorow.Help would be appreciated!
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Old 5th February 2010, 16:29   #5
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In such a situation, and before exploring the legal option, a meeting can greatly help matters. Speak to someone senior whom you have had a good rapport with.
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Old 5th February 2010, 16:49   #6
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Better speak with seniors as suggested by GTO or the Finance Manager/HR
Generally they clear the dues at the time of separation but may be they are waiting for the financial year closure.
Also it is only one branch in India or few overseas offices are also there. If yes contacting them may be better if meeting does not resolve the matter
After that you can think of legal case
One more advice even if you get some portion may be 75 to 80 leave them as fighting legally will cost you more with no or faint results
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Old 5th February 2010, 18:41   #7
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Try finding out if the company you were working in was a member of any trade union, and if so then try contacting them.
If you yourself are a member of any union for eg. The pharma medical representative union etc., then you can approach through them.
But these are all secondary steps. The first and the best alternative is to sort things out amicably. Try explaining them by saying that they will not do better business by keeping salaries of employees who work for them.
Lastly if they still are unmoved, then get some friends along and break a few glasses and create some havoc which they will never forget ( read..do what Amir Khan and his friends did outside their Principals house in 3idiots )
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Old 8th February 2010, 11:38   #8
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Had a meeting with the VP on Saturday, No assurance given about the amount and date when it will be settled.He said, "We have preared the list of creditors, priority 'll be given to existing employees account settlement, then to ex-employee, will update you the status within a week".
I see no hope.
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Old 8th February 2010, 11:56   #9
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Quote:
Originally Posted by Gill View Post
Had a meeting with the VP on Saturday, No assurance given about the amount and date when it will be settled.He said, "We have preared the list of creditors, priority 'll be given to existing employees account settlement, then to ex-employee, will update you the status within a week".
I see no hope.
Non payment of wages is a crime; and is punishable under the law.

Remind the senior finance and HR executives of the the "Payment of Wages Act".

I am not sure if you qualify to be a "workman" under the Payment of Wages Act (workman under the PW Act is not same as "workman" under the Industrial disputes Act), but if you do, you can approach the State government's labour department in place where the company is situated.

There are both central and state labour departments, since you are a private company, you need to approach the State government's labour department. Designations and powers will vary from state to state, but "District Labour Officer" is a reasonably safe designation to look for.

Not that you may need to approach them, but asking a comparatively junior guy in the HR department in an appropriately conspiratory tone, as if asking for a favour, about the location of the labour department's office may help. :-D
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