My Company cannot pay debt and financial creditors are in the process of filing corporate insolvency resolution procedures against my company.
I was working there in a higher post as a manager.
The company has not paid our outstanding dues including salary, gratuity, bonus, provident fund deducted from salary but not deposited in the PF account, and Income Tax deducted from salary but not deposited with the income tax Department.
Is my gratuity secured if I file a petition through labour court and get my claim admitted in NCLT?
Is my Salary, Bonus, PF, and TDS components secured if I file a petition through civil court and get my claim admitted in NCLT?
As an operation creditor, what are the payout chances during the corporate insolvency resolution procedure?
Should I need to approach any other administration of justice to safeguard my wages?
Please advise.
You will have to file claim in Form B which you seem to know. You can claim:
1. Unpaid salary net of TDS
2. TDS amount if deducted but not deposited.
3. Bonus if documentary proof is available.
4. PF & gratuity dues if applicable.

TDS amount though not deposited with IT Authorities will not be admitted by the IRP / RP since it belongs to ITD and must be claimed by ITD.

U/s 53, Operational Creditors have low priority. But in resolution, salaries and wages often get paid to a substantial amount.

There is no point in litigating in civil court. Here, IBC will prevail.
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