Has your company deposited your PF?

The CBI on Tuesday searched the premises of a real estate major in Mumbai and three officials of the Regional Provident Fund (RPF) Commissioner's office for allegedly duping the employees of the company of provident fund by not depositing it.

The CBI has registered a case against four officials of the RPF and four companies of Hiranandani group for allegedly manipulating the provident fund of its employees.

The agency has alleged that the four companies of the group had defaulted in the payment of Rs 8.47 crore of its contribution towards the provident fund of its employees, CBI sources said.

The amount was meant to be deposited for the financial year of 2004-05. However, the CBI alleged, that the company colluded with four officials of RPF and deposited a token amount of Rs 2.20 lakh as against their actual dues.

The agency registered the case last week and carried out searches at the premises of one of the RPF employees immediately thereafter. The premises of the remaining officials and those of the company were searched today.

The businesses of the company include real estate development, construction, facility management, infrastructure development, hospitals, schools, retailing, hospitality and entertainment.

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When approached for comments, a top company official sought to play down the searches, and said "...This is a routine inspection by provident fund department. They come every three to four months."