Crores Stolen Through Provident Fund In Mumbai Office, Inquiry Set Up
Six employees of a regional office in Mumbai's Kandivali were charged with defrauding the EPFO (Employees' Provident Fund Organization) for Rs 21 crore using the dormant provident fund accounts. The EPFO Mumbai office after auditing the incident has decided to survey and examine all the PF transactions at all field offices across India. All six people involved have been suspended. Meanwhile, a CBI inquiry is underway.
Tags: Employees Provident Fund Organization, Bank fraud, Mumbai, CBI inquiry
Courtesy: Business Today
Employees At Provident Fund Fraudulently Siphon ₹21 Crores
Employees at the Employees Provident Fund Organisation's Mumbai branch, fraudulently withdrew over ₹21 crore from a common PF pool from March 2020 to June 2021. The ongoing investigation revealed that Chandan Kumar Sinha, a clerk at Kandivali office, is believed to be behind the whole plan. He used 817 bank accounts of mostly migrant workers to claim ₹21.5 crores. Sinha who fled, is among five others who are currently suspended.
Tags: Employees Provident Fund Organization, common PF pool, Fraud, employees
Courtesy: The Indian Express