EPFO has Sought Rs. 34 crores from Sahara, Matter Sub Judice: Teli

The Employees Provident Fund Organization has raised a demand of Rs. 33.97 crores form the Sahara Group companies and the matter is now sub-judice, state labour and employment minister Rameswar Teli said in response to a question in the Lok Sabha. “A demand for an amount of Rs. 33,97,30,000 has been raised by EPFO and the matter is mow sub-judice,” he said.

Shara India, however, said the demand is illegal. “Illegal demand for Rs. 33.97 crores over and above the legitimate funds of employees is under challenge and subjudice before the high court,” Sahara India spokesperson said. “The HC has already granted stay/interim orders of protection,” the spokesperson added.

According to a Sahara India spokesperson, while the total liabilities towards all employees till the date stands at Rs. 278.12 crores, its Trust has already transferred an amount of Rs. 280.06 crores to the provident fund department.

“Further, a special audit conducted by the EPF department under the supervision of the high court has also submitted its report to the department and concluded that the amount of liabilities towards all employees is Rs. 278.12 crores only, as contended by Sahara’s and falsifies the claims of PF department,” the official added.

The minister, in his response, further said that the exemption granted to M/s Sahara India, M/s Sahara India Financial Corporation Limited, M/s Sahara India Commercial Corporation Limited and M/s Sahara India Mass Communication was cancelled during the month of March, 2018 due to violations of terms and conditions of the exemption.

“No loss of any provident fund (PF) benefit was reported at the time of grant of exemption by the enforcement authorities of EPFO. In fact, a corpus of Rs. 185.32 crores were reported in the trust in respect of the then PF members,” he said.

“After cancellation of exemption, past accumulations of PF amounting to Rs 278.56 crores along with details of all the employees in respect of four establishments were received from the Trust by EPFO,” he added.  S-ET

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