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PF office slaps Rs 760-crore notice on RTC

PF office slaps Rs 760-crore notice on RTC
Highlights

Regional Provident Fund (PF) Commissioner on Friday served notice on TSRTC management for not depositing employees PF money collected from them to the tune of Rs 760 crore.

Hyderabad: Regional Provident Fund (PF) Commissioner on Friday served notice on TSRTC management for not depositing employees PF money collected from them to the tune of Rs 760 crore.

The Commissioner asked TSRTC MD Sunil Sharma to appear before him and explain the reasons before November 15. The Commissioner has reportedly told the management that it had come to his notice that the management was not depositing the money with the PF office.

He has also made it clear that the management would have to face heavy penalty for not depositing the money collected from the employees in time.

According to sources, the TSRTC management is not depositing the PF money collected from the employees for the last one year.

Sources said that instead of depositing the money with PFO, the management was utilising the same money for salaries and other expenses. Every month the management collects over Rs 50 crore from the employees as PF.

Apart from the PF money, the management has allegedly utilised the CCS (Credit Cooperative Society) money. The management has to give Rs 550 crore to the CCS and the Court has also directed it to give Rs 200 crore within six weeks.

The TSRTC workforce is under an indefinite strike for the last 35 days and they are working without salaries for the last two months. The government told the court that the Corporation was left with no money to pay salaries.

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