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Defaulters May Be Checked For Anomalies in Pf Payments

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The government could check the records of loan defaulters categorised as “wilful” to examine if they have been regular in giving out employee benefits including provident funds (PF) to their staff.

The Employees’ Provident Fund Organisation (EPFO) recently set up an investigation team to check if Vijay Mallya-promoted Kingfisher Airlines (KFA) was irregular in PF  payment.

The labour ministry, which is the nodal ministry for EPFO, may also take up the issue.

“We want to rule out discrepancies in payment of employee benefits by other defaulter companies as there were complaints in the case of KFA have come to the fore,” said an official source. “The focus has only been on KFAbut the fact is that there are several other companies in a similar situation or even worse.”

It has been underlined, recently, by a consultative committee attached to the finance ministry that there was need to bring in more transparency in revealing the names of the defaulters whose loans have been written off by the state-owned banks.

Hindustan times, New Delhi, 30 April 2016

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