Legal8 April 2026 at 12:22 pm
Nippon Life India Asset Management Ltd. Receives Order for Payment of Rs. 36 Lakhs Under Employees Provident Fund Act
AI Summary
Nippon Life India Asset Management Ltd. has received an order from the Regional PF Commissioner-II, Employees Provident Fund Organisation (EPFO) under Section 7A of the Employees Provident Fund & Miscellaneous Provisions Act, 1952. The order mandates the payment of balance E.P.F. and allied dues of Rs. 36,54,699/- for the period from May 2013 to March 2017, pertaining to international workers. The Company will also be liable to pay interest under Section 7Q and damages under Section 14B of the Act. The Company has calculated dues only on basic wages and not on personal pay, conveyance, and medical reimbursement, leading to this order.
Key Highlights
- Order received under Section 7A of the Employees Provident Fund & Miscellaneous Provisions Act, 1952
- Payment of Rs. 36,54,699/- (Rupees Thirty Six Lakhs Fifty-Four Thousand Six Hundred and Ninety-Nine Only) for balance E.P.F. and allied dues
- Liability to pay interest under Section 7Q and damages under Section 14B of the Act
- Dues calculated only on basic wages, not on personal pay, conveyance, and medical reimbursement
- Company to pay the dues before the due date along with applicable interest and damages