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Share to employees

This query is : Resolved 
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(Querist)
15 July 2010 A company on a settlement with the Trade Union has decided to issue FULLY PAID UP share to all employee of Rs. 1000/- and the amount to be deducted from their wages in ten equal installments.
Whether such scheme is valid?
Under what provision/section ?
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Rasesh

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Rasesh (Expert)
16 July 2010 The scheme is valid since they are getting some shares and hence they have to pay the consideration.

However, the workers can go against the scheme if they feel so.
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