Disposing of a petition filed by a former Paytm employee, the labour ministry on Wednesday (July 10) reportedly said that fintech major has agreed to not recover the joining bonus from the aggrieved employee.
As per Economic Times, the ministry said that Paytm also agreed to pay the notice period payment to the ex-employee. The development came to pass after Paytm representatives appeared before the regional labour commissioner of Bengaluru.
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“The representative of the management of Paytm appeared before the regional labour commissioner, Bengaluru on Wednesday and agreed not to recover the joining bonus and to pay the notice period payment to the employee… The employee accepted the exit offer made by Paytm in the presence of the regional labour commissioner (central), Bengaluru,” said the ministry.
It added that the grievance was resolved to the “satisfaction of both parties”.
This comes a day after the regional labour commissioner office issued a notice and summoned Paytm over alleged forced termination of employees.
The directions came close on the heels of a major restructuring exercise at Paytm, which saw mass layoffs across the board. As per Inc42, at least 500 employees were impacted by the exercise.
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