Regulatory28 Apr 2026, 11:30 am
TeamLease Receives ₹184.58 Cr EPFO Show Cause Notice
AI Summary
TeamLease Services Ltd has received a Show Cause Notice (SCN) from the Employees' Provident Fund Organisation (EPFO) alleging contraventions in the administration and management of funds. The EPFO claims investment losses, losses on the sale of bonds and debentures, misappropriation of reserves, and discrepancies in employee-related amounts. The notice quantifies the implication at ₹1,84,58,42,073, which TeamLease disputes. The company is evaluating the notice and will take appropriate legal action.
Key Highlights
- TeamLease received a Show Cause Notice from EPFO regarding fund administration.
- The notice alleges investment losses and misappropriation of reserves.
- The claimed amount is ₹1,84,58,42,073, which the company disputes.
- TeamLease is evaluating the notice and will take legal action.
- The company experienced a 5-day delay in intimation due to administrative reasons.