jeetendra Surti
12 October 2009 at 12:50
Dear Sir/Madam I was working for a partnership firm as director ops the company started in June 2009 i and my MD went to official trip to Malaysia and since the MD was a very gud friend of mine and since the company was new he requested me that you pls arrange your own air ticket fare and company will reimburse you later i did that and he also requested me to use my mobile phone for all ISD official calls and said company will reimburse that too & after we return when i ask for my money and salary of 32,0000/- he said will pay you later and then he demoted me to Business development manager saying yous salary will remain same and since ur contacts are gud pls help company in getting business and after 2 days he terminated me from my service when i was on sick leave and when i ask for my dues he is not willing to pay me and giving excuses Please help me what should i do now the company has given me appointment letter where they have said that i will be paid 32,0000/- salary and all expenses made on company behalf for visit for official purpose and even my mobile bill.
Suresh C Mishra
11 October 2009 at 10:37
sir my cleint has been retired on 1 jan,2009 but till today No fund amount has been given to him in spite of his complaint to RPFC ? What I can do to get it very soon ? He is seriously ill ? need money urgent ? Company runs provident fund trust ? Is any remedy against him in HCfor getting direction agaisnt trust?
chandranil S Belvlakar
10 October 2009 at 17:50
Dear Experts,
Can any one provide me with penal consequences for not providing holiday on election day
skg
10 October 2009 at 00:23
Dear legal experts,
please give your valuable advice on "bonus/exgratia/other type of payments to employees of transferor company" issue on amalgamation and mergers of two companies having synergies in their businesses.
Facts : A sick company(transferor company) gets merged with a profit making company (transferee company) thru a scheme of amalgamation as per approval of MCA AND HIGH COURT ORDER AS PER PROCEDURES LAID DOWN DURING MERGERS.
The transferee company is getting several benefits worth crores under Income tax and sale tax heads due to this merger.
For employees of transferor company there is a clause which states that "due to this merger their benefits will not be less favorable then those they were getting before this merger".
The transferee company convert the salary structure of employees of transferor company as per salary structure of transferee company wef merger date.
Now at the time of releasing bonus/exgratia the transferee company did not give the same percentage of bonus/exgratia to employees of transferor company by saying that they were only entitled to that minimum bonus which they were getting before this merger and in this way this is not less favorable to them as per clause of amalgamation.
My question is on this very issue.
Since wef merger date employees of transferor company have become employee of transferee company why the employees of transferor company not entitled to that percentage of bonus (which as per definition do not constitute part of salary but is derived from profitability of companies).
If the merger permits the transferee company to enjoy benefits of several crores wef merger date then why after this merger date the employees of transferor company are treated differently from employees of transferee company.
Isn't this a discrimination between employees and hence can this merger be challenged by emoployee(s) of transferor company on grounds of this discrimination i.e. employees are given different bonus/exgratia percentages after merger date.
Broadly speaking my question in general will become :
Whether the quote in the clause "will not be less favorable to them after this merger" implies that in future also i.e. even after this merger date the employees of transferor company are not eligible for those benefits enjoyed by employees of transferee company and will be on mercy of management of transferee company and they will always remain employees of sick transferor company and accordingly the benefits of profits of transferee company will not be passed to them as passed on to existing employees of transferee comapany.
Whether the revival of sick company due to mergers is not the revival of its employees?
Please provide some case laws/judgements against this discrimination on Bonus/benefit to employees of transferor company after mergers.
Rgds
skg
skg
09 October 2009 at 23:13
Dear legal experts,
I am really thankful to all of you for your valuable advice on justification of telephonic recordings and print out of email as evidences in court.
In continuation of the same can I have some judgements/case laws specially by Hon'ble Supreme Court or Hon'ble High Courts or even from District Courts.
With warm regds
skg
sunil
09 October 2009 at 19:52
Respected Sir/Madam,
I have submitted resignation from my centeral govt. post for relieving me with immediate effect.I have also deposited one months salary for the one months notice period.There is no other dues against me. No vigilance/ disciplinary action is pending against me.But the department has not accepted my resignation even after one week and Deppt. is not relieving me.But I am not able to continue my duty. As I have to join another post.I have applied for new job without giving any notice to my present deppt.Can I go prior to
acceptance of my resignation by taking leave or remaining absent. So that I may join the other job?
anshul sangal
09 October 2009 at 15:59
What is authorised deduction and what penalties not deemed to be deduction under Payment of Wages Act 1936.
anshul sangal
09 October 2009 at 15:55
What are the various mode of recovery of money under Employee provident funds and miscellaneous provision act 1952.
anshul sangal
09 October 2009 at 15:52
What are the conditions when an employer are entitled to recover the money contributed from contractor under Employees Provident funds and miscellaneous act 1952
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On merger issues and benefit to employees of transferor comp
Thanks to Mr. Makkad opinion but I am waiting for more opinions from other experts also.
It seems that on Merger and acquisition there are limited case laws so far as benefits to employees of transferor company are considered.
More over it appears that Mergers are made only for the benefits of Management of transferee company and its employee that is why only one line clause like "terms
and condition of services applicable to employees of transferor company as on merger date will not be anyway less favorable to them then those applicable to them
immediately before the merger date" are written in such merger schemes for employees of transferor company.
In my opinion this clause should be precisely elaborated and defined in such schemes so that the employees who are not interested or feels that they will not be
prosperous in future due to this merger should opt for retenchment compensation from transferor company and search for new job instead of joining the transferee
company.But instead they were made to believe thru false propagandas by management of both companies that they will gain and be prosperous in future from this
merger.
Now it is clear that using this clause only the transferee company and its employee keep on enjoying benefits declared even after the merger date including statutory
benefits like bonus which is not covered in salary definition but arise from the profitability of the company.In this way I think that Government machinery and High
courts sanctioning such schemes are only benefitting management and employees of transfree company and not the employees of transferor company who thus start
feeling that they are still part of the sick company and the letter they received after merger saying that "We look forward to mutually strong and prosperous association
in future" will make them only stagnant and not prosperous as monetary gain to them have been denied.
One thing that I forget to ask in my earlier query was :
The board of directors of both comapnies in their respective meetings on same "x" date (which later on also declared as merger date in the proceedings of merger
scheme) gave their "in principle approval of proposed merger" and after 20 days from x date the transfree company management knowing that they are gaining several
crores, announced an incentive scheme for its employee.
Now my question is that whether employees of transferor company who became employee of transferee company with effect from "x" date as per letter issued to
them (after six month stating that they are now employees of transferee company wef x date) are eligible for this incentive or not, keeping in front the merger date "x"
and the the declared incentive date as "x+20 days".
rgds
skg