Bank accounts of 636 firms sealed by EPFO for irregularities

Bank accounts of 636 firms sealed by EPFO for irregularities

Employees Provident Fund Organisation (EPFO) has sealed the bank accounts of 636 organisations and attached the properties of seven others for alleged irregularities in paying their employees' PF contribution in Madhya Pradesh.

"EPFO has sealed the bank accounts of 636 employers and attached the properties of seven organisations for committing irregularities in paying their employees' PF contribution," an EPFO spokesman said.

During this period, 14 employees who indulged in wrong- doings in depositing their employees' PF were also arrested, he said.

EPFO carried out a drive to realise PF contributions from employers and took the strict action against them between April 1 last year and March 10 this year, he said.

The EPFO was observing March as 'recovery month' to realise PF contributions from employers, the spokesman added.

Source:BankingUpdates