Hi all we are around 700 employees working for Dq entertainment international limited It's a very big animation industry. Since last year July 2019 the company started to cut 15% of salary saying that don't have enough work in hand. and from January 2020 have not paid salaries till date. in these ten months we have been paid only one month salary and that too in parts. whenever we ask management, they say they're looking out for investors until they find one, we have to face the issue but promised that soon it will be done and will pay our dues. many of them stopped doing work, they made them resign from duties.
since we can't find a job outside we worked and moved projects. last year there were around 10 projects on floor and now at least 4 are in progress.and as many associates left we had the preassurpreassur to finish with existing manpower.
each associate will get min Rs5 lakhs to 15 lakhs if they do settlement. and on Oct 26 2020 they filed an insolvency petition with Exim bank.
We worry that we will lose our hard-earned money. what can be done, we approached a lawyer and he wants to charge 10k per person. as we don't have money even to pay rents we are unable to pay him.
The company has not paid even PF for 18 months and cutting TDS and also updating Salary slips. and telling us to work or just resign
Is there anything we can do, please explain step by step, so that we can get back our money.
You demand your salary in writing within 15 days if they don't comply you complaint under Insolvency Bankruptcy Act. Employee has First right and they are Operational Creditors under IBC Act. All employees together can make the application under this code.