Amidst Funding Wave, But Salary Delay Still Prevails At Byju's
Despite working until April, the former employees reportedly received a portion of their salary in February but nothing thereafter
In a recent argument, Byju's claimed before the National Companies Law Appellate Tribunal (NCLAT) that Riju Raveendran, the brother of the company's founder and a director, contributed Rs 2,600 crore to the business in order to keep it operating and pay its 27,000 employees. While this action prevented BYJU'S from going bankrupt, employees have not yet received the salaries that the money were intended to pay.
A DH investigation stated that a number of ex-employees disclosed that they had not received their salaries for many months prior to departing the organisation. In addition, the business still owing money for other obligations, such as gratuities.
Workers are reportedly taking legal action and have started thinking about taking collective action. Approximately 20,000 of the 27,000 workers are from Aakash Educational Services, which Byju's purchased in 2021.
Despite working until April, the former employees reportedly received a portion of their salary in February but nothing thereafter.
They also said that they were having trouble receiving emails pertaining to pay stubs and income tax documentation. It has apparently been communicated to current staff that the company will not be able to pay them until December of this year. Reportedly, the corporation has not paid Tax Deducted at Source (TDS) since April, and those who have completed five years may not yet have received their gratuity. Although the business intends to pay the past-due salaries, no specific timetable is given.
