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 …
Over 1.23 lakh high net worth individuals deposited over ₹62,500 crore into their employees’ provident fund accounts in 2018-19 alone, and the largest EPF account has a staggering ₹103 crore balance, sources in the Department of Revenue said on Thursday, defending the Budget move to tax the income on employees’ PF contributions over ₹2.5 lakh a year. “Since any tax …
