Dunzo, the cash-strapped instant grocery app, has announced in a written email that it will pay 12% annual interest to its employees on their deferred salaries. The company aims to clear all outstanding dues by September 4, as reported by Moneycontrol.
Facing legal and financial challenges, Dunzo is taking steps to ensure its employees are compensated. The startup received seven legal notices from various companies for unpaid dues.
In an effort to address the financial strain, the company has deferred salaries for around 500 employees and capped salaries at ₹75,000 starting from June, without considering individual payscales. Initially, the company had a deadline of July 20 to clear all dues, but it was later extended to September 4.
In an email to its employees on July 27, Dunzo’s payroll team expressed gratitude for their patience and support, assuring them of interest payments at 12% per annum. Fulfilling this commitment could bring much-needed relief and ease frustration among the employees regarding the company’s management.
However, there are concerns that Dunzo may face challenges in providing the interest amount due to the significant list of pending dues, including vendor payments and tax deductions. Seven vendors have already sent legal notices to Dunzo for unpaid dues.
While the company has taken steps to address its financial difficulties, the situation remains uncertain, and it is important to monitor further developments closely.
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