Delhi Police files FIR against SpiceJet managing director and three others over PF dues worth Rs 65 crore – India News

The Delhi Police’s Economic Offenses Wing (EOW) has filed a First Information Report (FIR) against SpiceJet’s managing director and four other officials for allegedly not crediting the deducted 12% employee share in their Provident Fund (PF) accounts have. The uncredited amount is approximately Rs 65 crore.

The FIR, registered under Section 409 (criminal breach of trust) and Section 120B (criminal conspiracy) of the Indian Penal Code, was prompted by a complaint filed by the Employees’ Provident Fund Organization (EPFO) on September 16. An investigation is underway. said an EOW official, as reported by PTI.

The FIR states that managing director Ajay Singh, director Shiwani Singh, independent director Anurag Bhargava and two other officials, Ajay Chhotelal Aggarwal and Manoj Kumar, are responsible for the conduct of the company as per the ownership declaration form submitted to the EPFO. The company, which employs over 10,000 people, has deducted the PF portion from employees’ salaries from June 2022 to July 2024, with a commitment to remit these amounts by August 15, 2024.

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According to the FIR, the PF contributions of the employees must be credited to the EPFO ​​under Section 6 of the EPF and MP Act, 1952 and deposited into the employees’ accounts within 15 days of the end of the month. The total non-transferred contribution is Rs 65,70,62,540 which is against the rules of the EPF scheme.

The FIR also states that a representative of SpiceJet admitted the deductions during a quasi-judicial proceeding before the assessing officer. The employer is accused of defrauding employees and embezzling funds, possibly resulting in violations of various legal provisions.

A statement from the airline said: “The case was filed before the company raised fresh funds through Qualified Institutional Placement (QIP). Since then, the airline has cleared all outstanding salary and GST contributions and has settled them by depositing PF- Significant progress has been made with ten months of contributions.”

(With PTI inputs)