Aditya Birla Money says it complied with EPF Act

In response to a story on siphoning of funds from the Employment Provident Fund Organisation (EPFO), Aditya Birla Money Ltd has stated that the company complied with the requirements of the EPF Act.

On Friday, dna published a story highlighting the irregularities in the EPFO, and explaining how more than a lakh companies siphoned off almost Rs 3,450 crore in connivance with EPFO officials.

In response, Aditya Birla Money Ltd stated: “We wish to put on record that the article is misleading and factually incorrect and the company has complied with the requirements of the EPF Act. Aditya Birla Money Limited has been and is regularly remitting all employee & employer contributions on account of PF to the RPFC office in Chennai, as per applicable requirement and there has been no instance of siphoning (or) scam (or) default or any violation in the process, as alleged...”

According to Poonam Rajkumar S, marketing and communications head of the group, “There is only one legal dispute between the company and PF authorities, which the company is contesting in Madras High court. The matter is currently subjudice and the company has disclosed the possible legal liability as a contingent liability in the annual report as per legal and professional advice”.

The company wishes to state that even under this dispute, there has been no money that has been deducted/collected from any of its employees and not remitted to the EPF authorities.

However, EPFO continues to display the company as a “defaulter” on its official website (www.epfindia.com).