Jobaaj Stories
Another day another breaking news from Byjus!
As per some anonymous sources Byjus, the famous ed-tech has been deducting the provident fund of employees but has not been depositing them! This is not a recent case, as Byjus stopped paying the PF component of most of the employees long ago.
Even the EPFO data showcase the inconsistencies in the PF contributions being deposited in the accounts of the employees. According to the sources:
- The Provident fund from December to March was only paid to a fraction of employees.
- In April, the company paid PF for only 3,164 employees
- This went down to 31 employees in May.
If this is not much, the payslips of the employees even showcased a separate header where the company deducted the PF amount.
What's more, is the fact that there are plenty of similar cases wherein the contribution of 2020 was paid in 2023!!
Why this can be termed financial fraud?
As per the rule, the companies were asked to deposit the PF contribution of every employee in the EPF accounts by the 15th of next month. And in case of non-compliance there can be penalties and even employees can file a complaint against the employer.
Also, Read Government of India ordered an inspection of Byju last week
