The Ministry of Labour and Employment successfully resolved a layoff complaint filed by a Paytm employee. On Wednesday, the ministry announced that Paytm’s management had agreed not to reclaim the joining bonus and to pay the notice period amount to the employee.
The resolution came after the Regional Labour Commissioner (Central) in Bengaluru issued a notice to Paytm in response to the employee’s grievance over alleged forced termination. A representative from Paytm appeared before the Commissioner and agreed to the employee’s demands.
Sources revealed that the employee accepted Paytm’s exit offer in the presence of the Regional Labour Commissioner, resolving the dispute to the satisfaction of both parties.
‘The representative of Paytm’s management agreed not to recover the joining bonus and to pay the notice period amount,’ the ministry confirmed.
The situation for other staff remains unclear, as more employees have reportedly expressed dissatisfaction with Paytm’s handling of terminations.
Earlier this year, Paytm Payments Bank Limited (PPBL) faced regulatory scrutiny when the RBI ordered it to stop accepting new deposits and digital wallet transactions due to ‘material supervisory concerns’ and rule non-compliance. This led to significant restructuring, including employee layoffs.
