payment of annual increment

srlaksminarasimman (Querist) 04 July 2009 This query is : Resolved
To
Respected friends

A private limited company in which 25 workers ( the monthly salary of every worker is below Rs 6500 )are employed. There is no trade union in the company.
During the financial yaer 2008-09, the company incurred losses due to economic slow down.
Whether the management is justified in refusing to give annual increment to workers on the ground of losses ?

Kindly clarify
regards
sr laksminarasimman

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