Housing Development Corporation (HDC) has begun the process of recovering bonus overpayments from its employees, six months after the funds were mistakenly disbursed.
Documents sent to staff by HDC’s Human Resources Department reveal that while a bonus of MVR 18,600 was issued to each employee last December, several staff members were not entitled to the full amount. The corporation attributed the error to a calculation mistake, where payments were processed exceeding the actual duration of service completed by some employees.
Speaking to Adhadhu, some HDC employees noted that in certain instances, individuals received up to MVR 15,000 in excess of their eligible bonus.
"This was not the employees' fault. Yet, six months later, we are being told to repay this money according to a schedule. If we don't, it will be deducted from our salaries," one employee said.
"A large number of staff are affected by this. Employees are now facing the consequences of a mistake made by management. In reality, action should be taken against the officials responsible."
According to the notice sent to staff, HDC has offered two repayment options: a full lump-sum transfer to the company’s bank account by June 26, or a salary deduction. For those opting for salary deductions, the company has provided the flexibility to settle the amount in full within one month or through installments spread over a period of two to six months.
HDC began distributing the bonuses last December following concerns raised by staff regarding delays in the payment process.
Employees noted that prior to the current administration, bonuses were typically disbursed annually around July or August.
While HDC has been one of the most profitable state-owned enterprises, annual reports from the Privatization and Corporatization Board (PCB) indicate that the company faced a significant loss of MVR 109 million in 2024.
