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question on company funds and employee salary

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1 question on company funds and employee salary on Thu Jul 14, 2011 12:16 pm


Arresto Menor
We have a situation in the office. The President has refused to sign the voucher and check that will transfer money from the President's account to that of the company's account. By the President's orders, all funds coming into the company's bank account are transferred to her personal account. She also charges ALL her personal expenditures against the company's income.

Naturally, it came to a point where we our operating funds were depleted and we have had to request her to transfer back to the company's account money to cover the operating expenses and payroll. This happened twice and on the third time, she refused telling us to stand on our own feet. She said she is tired of "abono." She even blamed us at top management for being ineffective.

Can we, employers and management, take legal action to compel her to pay us?

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Your problem is intra-corporate. Better check first the Articles of Incorporation and the rules in your By-Laws. Follow the procedures there and if not able to settle the matter, you can file the case in the RTC Special Court for Corporate/Commercial matters

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Arresto Menor
We checked our Articles of Incorporation and Bylaws. There is nothing there that can help us with our problem. We considered taking legal action but we are stumped by our lack of evidence. We do not have any record of the money being withdrawn from our company account to be transferred to the president's personal account. There are 2 sets of books. The "official" books will yield nothing. The "real" book is with her. There is no way we can get it.

Today is the 15th but she still refuses to release the money, saying she has grown tired of making "abono." Which in reality is just the opposite - the amount we are requesting PHP 153,000 is far less than the average of the bills she accrues with her credit cards.

We are tired of her and would like to have her answer for all the wrongs she's done.

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your remedy is to file a complaint at the nlrc or report the matter to DOLE.

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