Provident fund payments: Pune security firm director booked for siphoning Rs 28.3 lakh
It has been alleged that the director of the firm was deducting money from employees' wages in the pretence of paying provident fund contributions.
New Delhi: The Pune police have registered a case under Section 420 (cheating) of the Indian Penal Code against the director of a security company for defrauding the latter of Rs 28.3 lakh. The case was registered at Pune's Bhosari police station.
The company is located on Bhosari's Alandi Road. It has been alleged that the director of the firm was deducting money from employees' wages in the pretence of paying provident fund contributions. However, the funds were not deposited in the EPFO (Employees' Provident Fund Organisation) account, which is mandated by the government.
The alleged syphoning of the money that began in April 2016 did not come to limelight until June 2021. Later it was discovered that a total of Rs 28 lakh was being syphoned over the years by the 43-year-old director of the firm for his own personal gains.