Labour Ministry to probe Kingfisher Airlines’ PF contributions: Bandaru Dattatreya

Beleaguered businessman Vijay Mallya, who is facing legal proceedings for allegedly defaulting on loans of over Rs 9,000 crore from various banks, is currently under scanner by multiple agencies, including CBI.

By: PTI | Hyderabad | Published:March 13, 2016 1:06 pm
MoS Bandaru Dattatreya MoS Bandaru Dattatreya

Labour Ministry will soon launch an investigation into the provident fund contributions made by Kingfisher Airlines for its employees when the carrier was functioning, Union Minister Bandaru Dattatreya has 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 allegedly defaulting on loans of over Rs 9,000 crore from various banks, is currently under scanner by multiple agencies, including CBI.

An open letter written by women employees of KFA recently alleged 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 one 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 (EPFO) have invested approximately Rs 5,000 crore in exchange-traded funds. For the first six or seven months, returns appeared to be better. After that, for two or three months, we don’t see it as encouraging. Even then, we will have to wait and watch,” he said.

“There may not be profits in the short-term. Even then we must go ahead in a cautious way. CBT meeting will be held on March 17, we may discuss the issue in that meeting,” the minister said.

He further said that a meeting was held with portfolio managers and other stakeholders last week on the innovative methods to be followed for future investments, but no decision was arrived at.

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  1. A
    Asma
    Mar 13, 2016 at 7:55 am
    So, does it mean, all this time, the Labour Department did not do their duty ??? What about 1000 1 Companies that continue evading contributions ???
    Reply
  2. V
    Virendra Sason
    Mar 13, 2016 at 9:59 am
    ज्यादातर कंपनियां कर्मचारियों और कॉर्पोरेट्स का हिस्सा समय से या जमा नहीं कराती है और सरकार सब देखते हुए चुप रहती है। क्यों ?क्या भष्टाचार नहीं है ? आप सभी कॉर्पोरेट्स की जाँच करा सकते है। यही TDS/TCS, Service Tax के साथ होता है। बिल्डर्स Corpus fund के साथ ऐसा करते है। इनकम टैक्स व सेंट्रल सर्विस टैक्स पता नहीं क्यों मूक दर्शक बने रहते है। यही सब भ्र्ष्टाचार नहीं है ? क्या यही करप्शन फ्री सरकार है ?
    Reply
  3. B
    babu
    Mar 13, 2016 at 8:50 am
    This guy look more sekxier than hrd mini with red dot on fore head
    Reply
  4. P
    Pakku Mudli.
    Mar 13, 2016 at 4:10 pm
    What a cruel joke. This minister is NOW going to investigate the case! Till now he was busy writing letters to Hyderabad university and Education Minister for haring poor Rohit Vemula which culminated in his suicide. Now he suddenly realises his duty though the Kingfisher employees have been agitating for ries for past at least two years!
    Reply
  5. R
    Raider
    Mar 13, 2016 at 9:59 am
    First they let him (Mallya) escape now they will probe for irregularities. This is the face of politicians either BJP or Congress both are two sides of the same coin.
    Reply
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