HDC moves to reclaim over MVR 1 million in bonus overpayments
Approximately 200 employees received bonus payments that exceeded the amounts they were eligible to receive under the company's bonus policy.
The Housing Development Corporation (HDC) has begun efforts to recover bonus payments made in excess of employees' entitlements following a payroll error identified after the disbursement of annual bonuses.
According to information confirmed by an HDC official, approximately 200 employees received bonus payments that exceeded the amounts they were eligible to receive under the company's bonus policy.
The corporation has informed affected employees through internal communications and requested the return of the overpaid funds.
The official said the error occurred during the processing of bonuses for 2024, which were paid to staff in December last year.
Employees who joined the corporation partway through the year were entitled to receive a prorated bonus based on their period of service. However, some employees were mistakenly paid the full annual bonus amount of MVR 18,600 instead of the prorated amount, which in some cases was approximately MVR 9,000.
As a result of the calculation error, the total amount identified for recovery exceeds MVR 1 million.
HDC is currently discussing repayment arrangements with affected employees.
According to the official, the corporation is considering flexible repayment options, including instalment plans spread over six months or one year for employees who may find it difficult to repay the amount in a single payment.
The company is also exploring the possibility of deducting the overpaid amounts from future bonus payments, subject to discussions with the employees concerned.
HDC has not indicated when the recovery process is expected to be completed.
