Hi
The director of an IT company who is an employee as well, wants to voluntarily forgo the salary (as an employee) for few months due to the business losses incurred (as there is no product sale made) during pandemic period. The business is incurring losses every month, he wants to keep paying other employees and run the business until a sale is being made. Is it lawful to do so and if it is allowed, is there any process that needs to be followed?
Thanks
Saru
The director of an IT company who is an employee as well, wants to voluntarily forgo the salary (as an employee) for few months due to the business losses incurred (as there is no product sale made) during pandemic period. The business is incurring losses every month, he wants to keep paying other employees and run the business until a sale is being made. Is it lawful to do so and if it is allowed, is there any process that needs to be followed?
Thanks
Saru