BYJU’S logo is seen in this illustration taken, June 22, 2023.
Credit: Reuters Photo
Bengaluru: Arguing its case before the National Companies Law Appellate Tribunal (NCLAT), BYJU’S informed that Riju Raveendran, a BYJU’S director and brother of founder Byju Raveendram, had infused Rs 2,600 crore into the company so that it carries on business and is able to pay salaries to its 27,000 employees. While its statements in that court got BYJU’S out of the woods (read: bankruptcy proceedings), its employees are still waiting to receive the salaries for which the money was pumped in.
At least three former employees have told DH on condition of anonymity that they had not been paid their salary for several months before they left, and did not receive other dues including gratuity payments. Many employees have started collectivising and are reportedly taking legal action. The 27,000 workforce, incidentally, includes approximately 20,000 employees from Aakash Educational Services, that BYJU’S acquired in 2021.
One former employee explained that they received part of their salary in February and nothing since then. They worked at BYJU’S till April.
“One of the issues is that whenever emails are sent asking for documents for income taxes or pay slips, we do not receive a prompt reply,” the person said. The latest update they got to know from current employees is that BYJU’S has asked for time till December this year to make payments.
Those in the know said that gratuity is pending for people who’ve completed five years, and that Tax Deducted at Source (TDS) has also not been paid by the company.
Another former employee confirmed, “Everyone is facing this issue as TDS hasn’t been filed since April. I think this might cause major issues and thousands of employees will have to pay lakhs from their pocket.” Former employees are also not being cleared their full and final dues by the beleaguered ed-tech company.
“I lost my job six months ago but still I am waiting for my salary and full and final settlement,” a third former employee said.
BYJU’S did not respond to questions sent by DH on this story.
A source from BYJU’S who did not want to be named confirmed that while the company is planning to pay these salaries, there is no timeline. The person said that even they have not filed ITR yet. Form 16 has not been provided as TDS payments have not been made yet because of the cash crunch and insolvency proceedings, the source added.