Accelya Solutions ordered to deposit ₹2.72 Cr by PF Commissioner

Accelya Solutions India Ltd has received an order from the Regional Provident Fund Commissioner – II directing the company to deposit ₹2,72,50,894 (₹2.72 Crore) within 60 days. This order pertains to proceedings initiated under section 7A of the Employees' Provident Fund and Miscellaneous Provisions Act, 1952, concerning the treatment of various reimbursements as part of basic pay for calculating employee provident fund contributions. The dispute period is from September 2014 to March 2019. The company believes the order has not duly considered its submissions and reserves the right to file an appeal. While the order directs deposit of the principal amount, separate inquiries may be initiated for interest and penalties. The company assesses that the order is not expected to have a material financial impact.