Probe to look into PF irregularities at JCT
The Regional Commissioner of the Employees’ Provident Fund Organisation (EPFO), Pankaj Kumar, stated that the EPF office has received complaints from employees of JCT Limited regarding delays in the settlement of their claims.
He clarified that EPF contributions were managed by JCT Mills Ltd, not the EPFO. However, the EPS (Pension Fund) contributions of the employees of JCT Ltd were managed by the regional office, Jalandhar, and no complaints had been received so far regarding pension settlement.
In a press release issued here today, he said during the compliance audit for the financial year 2022-23, it was found that JCT Ltd, Phagwara and Hoshiarpur, had deducted EPF contributions from employees but defaulted by not depositing these into the JCT Trust account, which constitutes an offence under the IPC. In view of this, an inquiry had been initiated by this office to assess the outstanding dues.
Pankaj Kumar said regarding legal action, multiple applications were submitted to the police to register an FIR against the establishment. As the FIR was not getting lodged, the regional office approached the court. After continuous follow-up, FIRs were finally registered against Samir Thapar, MD, and Mukulika Sinha, Executive Director.
Banks associated with JCT Mills have been directed not to sell any bonds or securities held under the trust without the approval of the Regional PF Commissioner. This measure aims to ensure the security of the provident fund amount currently held under the trust.
