Despite EPFO Nudge, Byju’s Delays PF Payments For Most Employees: Report
1 year, 4 months ago

Despite EPFO Nudge, Byju’s Delays PF Payments For Most Employees: Report

ABP News  

Despite a nudge from the Employee Provident Fund Organisation last month over irregularity in PF contributions, Indian edtech start-up Byju’s has not paid provident fund to a majority of its employees for June, according to a report by Moneycontrol. The report said that Byju’s has made PF contributions towards 738 employees for June so far, compared to 25,000 employees in the previous month, according to the data sourced by Moneycontrol. Last month, after reports coming out regarding a delay in PF payments, Byju’s released PF payments for 24,818 employees on June 26. As per the report, Byju’s delays in PF payments could be a sign of cash flow pressure at the firm, according to multiple industry consultants.

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History of this topic

Byju’s delays March salaries, blames 'few misguided foreign investors'. Here's what the company told employees
8 months, 3 weeks ago

Byju’s delays March salaries, blames 'few misguided foreign investors'. Here's what the company told employees

Hindustan Times  

Byju's said that it will delay March salaries to its employees making it the third straight month when the edtech company struggled with disbursements. The company blamed 'foreign investors' for the financial woes, in an email to employees as it said that “a few misguided foreign investors in Byju's have obtained an interim order in late February which has restricted …

Cash-strapped Byju's distributes part of salaries to employees: Report
9 months, 1 week ago

Cash-strapped Byju's distributes part of salaries to employees: Report

Hindustan Times  

Cash-strapped edtech platform BYJU's has announced that it disbursed parts of pending salaries to all the employees for the month of February, promising to clear the balance once it is allowed to use the funds from the closed rights issue, Moneycontrol reported. In a letter to employees as seen by the website, BYJU's said it has processed part of salaries …

From layoffs to legal hurdles: What's going on at Byju's?
1 year, 5 months ago

From layoffs to legal hurdles: What's going on at Byju's?

India Today  

Edtech giant Byju’s has seen a sharp turnaround in its fortunes since last year, and the success story of India’s most valuable start-up seems to have turned sour, even as its CEO Byju Raveendran remains optimistic about the company’s future. In a virtual town hall held on Thursday, Raveendran assured employees that the “best is yet to come” for Byju’s, …

Byju’s Courts Trouble With EPFO Over Delay in PF Payments
1 year, 5 months ago

Byju’s Courts Trouble With EPFO Over Delay in PF Payments

News 18  

Byju’s has delayed provident fund payments of employees for almost all months starting October last year, in what is a violation of the PF Act, opening itself up to action from the Employee Provident Fund Organisation. Byju’s, which is India’s most-valued startup, has been making PF contributions with a lag of almost three to four months, according to data sourced …

Why is Byju’s laying off employees and delaying payments?
2 years, 5 months ago

Why is Byju’s laying off employees and delaying payments?

Live Mint  

Bengaluru-based largest ed-tech company, Byju's, is in news for two very different reasons in two different countries. India's $22 billion firm is making headlines in India for joining the layoff bandwagon by announcing the termination of 500 employees in WhiteHat Jr, 1,100 in Toppr and reports suggest the number may be as high as 2500 across its group of companies. …

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