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The PF officials wanted to lodge a complaint with Ramgopalpet police station, but were directed by officers to the CID, which is investigating the case. PF officials say that they will file a case against Raju and Srinivas for breach of trust as the company has already deducted the employees' share of the PF, but failed to deposit it with the PF office.
Officials said that Satyam management should have deposited the PF amount by January 20, but failed to do so.
The PF office issued a show-cause notice on January 21 and asked the management to deposit the amount by January 31. However, the PF officials decided to lodge a complaint in the interest of the employees. The PF officials also made it clear that Satyam management has been depositing PF on behalf of 43,622 employees only.
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Do provident fund authorities not read annual reports? They could have saved everyone a lot of trouble if only they used computers and asked Satyam to reconcile. PF is mandatory by law and if PF is not being paid on some employees, then they must be stationed outside and this needs to be reconciled. Otherwise, there may be PF scandals too
As any other global organisation, there are several employees who are hired onsite (outside India) and contractors, who do not need contribute to IPF and those account for the rest of the employees, which media is supposedly calling missing.News reporters should check thier facts first and then report.
It is appalling the way media is projecting this issue without getting to the bottom of it. PF is submitted to the PF office for employees recruited in India. However Satyam is a global company and there are thousands of overseas recruits for whom Indian PF is not applicable. Also there are contractors for whom there is no PF. Both these categories will easily total up to around 7000-8000 which means the company has around 50000 employees. I feel sorry for the state of journalism in this country.
This does not include employees who are foreign citizens or NRIs, or contractors abroad, who do not need to have a PF account in India. It actually vindicates the stand that Satyam has over 50000 people on its rolls
Most of the employees onsite-outside India, join in India then go overseas, so have PF a/c opened in India, even if only 1-2 months contribution is paid while the Work-Permit/Visa, etc is done.Have correct knowledge !!
Satyam has employees abroad. Therefore, the count in PF office will not equal total Satyam strength. I hope PF office doesn't run its office using news in the media as its basis.