Kingfisher Airlines' PF share to be probed
Hyderabad, Mar 13, 2016, PTI:
Labour Ministry will soon launch an investigation to check whether there were any anomalies in the provident fund contributions made by Kingfisher Airlines for its employees when the carrier was functioning, Union Minister Bandaru Dattatreya said.
“We have not examined the issue so far. I will look into that. We will examine (all the issues),” Dattatreya told PTI.
Beleaguered businessman Vijay Mallya, who is facing legal proceedings for defaulting on loans of over Rs 9,000 crore from various banks, is currently under the scanner of multiple agencies, including CBI.
An open letter written by women employees of KFA recently said that the company did not pay salaries, but kept depositing PF due to fear of action from the authorities.
Former Kingfisher Airlines (KFA) pilot Captain Kedar Wagh said the defunct company owes him Rs 45 lakh towards his salary dues. He further said that many former employees are trying to come under a single banner and start a legal battle for their dues.
“We are trying to form a group and approach the Supreme Court seeking justice. We have received positive responses from over 900 former employees. We are in the process of gathering more employees on the platform,” Wagh said.
Meanwhile, EPFO’s apex decision-making body, the Central Board of Trustees’ (CBT), will meet on March 17 to take stock of the situation with regard to the investments the body made into index-linked ETFs (Exchange Traded Funds).
According to Dattatreya, the result has not been encouraging for the past three to four months despite signs of optimism in the initial stages.
“We have not examined the issue so far. I will look into that. We will examine (all the issues),” Dattatreya told PTI.
Beleaguered businessman Vijay Mallya, who is facing legal proceedings for defaulting on loans of over Rs 9,000 crore from various banks, is currently under the scanner of multiple agencies, including CBI.
An open letter written by women employees of KFA recently said that the company did not pay salaries, but kept depositing PF due to fear of action from the authorities.
Former Kingfisher Airlines (KFA) pilot Captain Kedar Wagh said the defunct company owes him Rs 45 lakh towards his salary dues. He further said that many former employees are trying to come under a single banner and start a legal battle for their dues.
“We are trying to form a group and approach the Supreme Court seeking justice. We have received positive responses from over 900 former employees. We are in the process of gathering more employees on the platform,” Wagh said.
Meanwhile, EPFO’s apex decision-making body, the Central Board of Trustees’ (CBT), will meet on March 17 to take stock of the situation with regard to the investments the body made into index-linked ETFs (Exchange Traded Funds).
According to Dattatreya, the result has not been encouraging for the past three to four months despite signs of optimism in the initial stages.
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