Regulatory19 May 2026, 02:37 pm
Expleo Solutions Faces ₹55.59 Lakhs EPF Penalty
AI Summary
Expleo Solutions Ltd received a notice from the Employees Provident Fund Organisation, Chennai, regarding remittance of contribution and administrative charges. A prohibitory order dated 12th May 2026, received on 18th May 2026, demands payment of arrears amounting to ₹55,59,710. The authority has frozen the company's bank account for the equivalent amount. Expleo Solutions plans to contest the order, stating that it does not expect a major impact on the company's financial operations.
Key Highlights
- Expleo Solutions received notice from Employees Provident Fund Organisation, Chennai.
- The notice pertains to remittance of contribution and administrative charges.
- A prohibitory order demands payment of ₹55,59,710 in arrears.
- Expleo Solutions' bank account has been frozen for ₹55,59,710.
- The company plans to contest the order, citing no major financial impact.
Price Impact
More from EXPLEOSOL