In your interest.
Online Personal Finance Magazine
No beating about the bush.
Internet Protocol TV and Internet services provider IOL Netcom has still not paid dues to its employees. At the same time the company’s advertisings are appearing in many English dailies. Several employees who left the company due to non-receipt of overdue salaries are apparently still being left in the lurch.
Moneylife had earlier carried an article highlighting the non-payment of salaries and dues of many IOL employees. There still are many complaints against the Mumbai-based company pouring in to Moneylife. One employee in a particular complaint points out while their salaries remain unpaid from late 2008, the company has even failed to deposit the employees’ tax deducted at source (TDS) collection with the Income-Tax department. The complainant claims that the company neither issued any TDS certificates nor any salary slips for many employees.
Apparently, when some employees approached a political party, the Maharashtra Navnirman Sena (MNS), they were promptly given their dues. But other employees are not even being entertained by IOL. Recently, the company had posted huge advertisements in a couple of English dailies that are very particular on payments. This means IOL does have cash but does not want to use it for paying dues of its current and former employees.
–Sanket Dhanorkar [email protected]