Edtch startup Byju’s has defaulted in paying PF contributions for most of the employees in June, despite a directive from Employee Provident Fund Organisation (EPFO), as reported by Moneycontrol.
As per the report, for the month of June the company made the PF contributions for 738 employees. This compares to PF contributions made for 25,000 employees in May.]
Earlier, Byju’s had not made the PF contributions for the months of April and May, while only 10,000 to 13,000 employees had received the payment for the months January, February and March. However, after EPFO’s intervention, the edtech paid 24,818 employees on June 26.
The company in a mail to the EPFO had mentioned that it has cleared all the PF due until May and that the PF payment for June will be made by July 15.
The company has come under the scanner of the EPFO and other Govt. agencies for statutory non compliances.
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