Tax & Penalty26 Jun 2026, 03:36 pm
Sundrop Brands fined ₹2.93 Lakhs by EPFO for PF Trust investment deviations
AI Summary
Sundrop Brands Ltd (formerly Agro Tech Foods Ltd) has received a Notice-cum-Order from the EPFO, Hyderabad, for a surcharge of ₹2,93,727. This penalty is due to minor inadvertent deviations in the investment pattern by the company's PF Trust, Agro Tech Foods Provident Fund, for FY 2023-24. The company's request for a waiver of the surcharge was rejected by the Authority on June 24, 2026, and the company has been directed to remit the amount within seven days. Sundrop Brands stated that the financial impact is limited to the surcharge amount and there will be no material impact on its operations.
Key Highlights
- EPFO levied a surcharge of ₹2.93 Lakhs on Sundrop Brands.
- Penalty is for minor deviations in PF Trust investments for FY 2023-24.
- Company's waiver request was rejected by EPFO.
- Surcharge payment is due within seven days.
- No material impact expected on company operations.
Price Impact
More from ATFL