IndusInd Bank review: Non-payment of gratuity and non compliance with statutory regulations

Dear Sir

We have been working for IndusInd Bank for more than 32 years. We have superannuated in the month of June 2025. We have received our settlements of Gratuity, Provident fund and Leave encashment applicable salary structure upto 31st March 2025 only. Though we are eligible for an Annual Appraisal of our performance for the year 2024-25. We have also reported our performance as per the format hosted in our HR site.

We have been expecting our increments, incentive and consequential increase in Salary, Gratuity, Provident fund and leave encashment etc.,

To our shock and surprise we did not get any of this. When we enquired with our reporting manager, we have been told that once the Appraisal for the year is done it will be extended to all employees.

Even after the entire appraisal is completed we did not get our annual increment and consequential benefits. We realized that we are not entitled for the same hence the same was not given in the settlement.

On repeated follow up with the reporting manager we have been provided with Incentive alone and that too only 50% of the incentive was paid though we worked for the entire year with sincerity and honesty. Though repeatedly we have been orally demand for the last 6 months, we did not get any response from any of the responsible employees of the Bank.

In this regard we have escalated this issue to MD through our mails dated 28.12.2025, 5.01.2026 and 18.01.2026 .We did not get any response either from the reporting manager or from the Managing Director (MD).

We expected MD to take severe action for such wrong doing by the HR department and give necessary instructions in this regard. But to our shock and surprise MD is not responding and we have waited for more than 6 months and mailed 3 times to MD. We expect MD to take a view favorable to the employees as this escalated issue will not only affect the two employees herein signed but also other employees who are either resigned or otherwise separated.

If an employee who retired after the appraisal actions are over is eligible for revised increments then what prevents the Bank / Company / MD to allow this increments to the employee retired during the month of April and May and June also and until the appraisal action.

I don’t see any grounds on which the increments could be denied so that the consequential accruals to the gratuity and provident fund and other emoluments could be denied to the employees. In this regard I would like to emphasis that any denial of Provident fund and gratuity is a statutory violation for which I would like escalate this to the Auditors to enquire into this violation. Besides whoever is given compliance certificate in this regard is squarely responsible for this wrong reporting and violation.

We have also indicated our move to escalate the issue to the next level and to the Regulators but the MD as well the executives responsible is stoic and unmoved by our actions.
We pray that MD should take immediate action and recalculate and revise our Salary increase, Gratuity, Incentive and increment and other consequential relief.
IN our opinion the inaction is driving us to approach the Regulatory authority for intervention, as the non-payment is a statutory violation and is considered as a debt not paid by the company which will attract the provisions of winding up, accordingly it is being addressed to Company Law Board, SEBI and other regulators.

We are considering escalation to media, investors and other responsible intuition for addressing our grievances.
We shall be approaching court for their intervention by impleading SEBI and RBI in this process if our grievances are not addressed quickly and promptly.