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Staff suffers as Samaa TV takes cost-cutting measures
JournalismPakistan.com | Published: 28 December 2018
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Samaa Television has announced the discontinuation of its provident fund and gratuity schemes due to financial challenges. Employees' services will also be converted to contracts as part of these measures.Summary
ISLAMABAD – Samaa Television management has decided to discontinue the contributory provident fund and staff gratuity schemes, as well as converting the service of all employees to contracts.
According to a letter circulated among staff members, the management said that these measures are being taken “in view of deteriorating market conditions resulting in adverse impact on the company’s revenues.”
The organization said it would terminate the provident fund from December 31, 2018. “Consequently no recovery towards Provident Fund will be made from staff salaries which will result in 5% (of basic pay) increase in the take-home pay of respective employees.
It said that provident fund balances would be settled by February 28, 2019.
Similarly, the management said that the gratuity scheme would be discontinued from December 31, 2018, and the company would pay the amount due to the employees when they quit.
On the other hand, the service of employees is to be converted to contracts from January 1, 2019.
Key Points
- Provident fund will be terminated from December 31, 2018.
- Staff gratuity scheme is also ending on December 31, 2018.
- Employees' service contracts will begin on January 1, 2019.
- The company cites deteriorating market conditions for these changes.
- Take-home pay of employees will see a 5% increase due to the provident fund discontinuation.
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