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Author Topic: Company got out of business and not paying salaries  (Read 1111 times)

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Offline vik1546

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Company got out of business and not paying salaries
« on: October 12, 2015, 11:13:54 PM »
I was working in a 2 year old startup which promised me salary+completion bonus+Esops. Now company couldn't raise further funds and now are out of business and closing down. They have not paid two months salary and shut down the office and refuse to take calls. How to legally deal with them?

Offline advmisthi

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Re: Company got out of business and not paying salaries
« Reply #1 on: November 05, 2015, 09:27:38 PM »
they cannot just walk out this way send legal notice to all the directors
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Offline riteshmaity

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Re: Company got out of business and not paying salaries
« Reply #2 on: April 22, 2016, 10:22:52 PM »
I was working in a 2 year old startup which promised me salary+completion bonus+Esops. Now company couldn't raise further funds and now are out of business and closing down. They have not paid two months salary and shut down the office and refuse to take calls. How to legally deal with them?

1. Send notice/ legal notice asking for salary
2. If they don't pay, file application for recovery of wages under Act which is applicable in your case.
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Offline lexcare

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Re: Company got out of business and not paying salaries
« Reply #3 on: May 02, 2016, 03:04:25 AM »
Send legal notice asking for salary

Offline sumitsharma

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Re: Company got out of business and not paying salaries
« Reply #4 on: May 02, 2016, 05:13:56 AM »
Hi,

Same problem with me also with previous company. I joined a company in Sep' 15 but after giving salary of one month the company refuses  to give salary of October and half Nov.  What i can do? The company changed their location and phone number as well.

Offline riteshmaity

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Re: Company got out of business and not paying salaries
« Reply #5 on: May 02, 2016, 09:30:12 PM »
Depending on the nature of company and the applicability of the Acts like Shops & Establishment Act or Payment of wages Act, you can seek remedy under the proper authority.

Initially it is advisable to send a notice/ legal notice. Even the said notice is remain unserved, it will provide you legal advantage in future.

Once it is done, consult a lawyer with documents.
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