Versteeg, who hasn't played since sustaining an upper-body injury in last Tuesday's 6-5 overtime loss against Washington, did not take part in the team's morning skate and coach Kevin Dineen said he was definitely out.
Versteeg has one goal and two assists in seven games after finishing third on the team with 54 points last season.
Upshall, who has missed the last seven games, skated on his own before his team took the ice, but Dineen said Upshall was "still a ways away."
Trying to snap a four-game losing streak, Dineen continues to juggle his forward lines. Veteran center Stephen Weiss will play with Shawn Matthias and Jack Skille on Monday, with Marcel Goc replacing Weiss between Tomas Fleischmann and Tomas Kopecky.
Here is the Panthers' projected lineup: