TVS Electronics Faces ₹12.78 Lakhs Litigation on PF Dues

TVS Electronics Ltd has disclosed material pending litigation concerning Employees' Provident Fund (EPF) dues. The dispute arises from a difference in interpretation of 'Basic Wages' by the Employees' Provident Fund Organisation (EPFO) for the assessment period April 2014 to June 2015. While differential PF contributions have been paid, the company is contesting damages awarded by the Central Government Industrial Tribunal-cum-Labour Court, Chennai. The damages were reduced by 45% from ₹23.24 Lakhs to ₹12.78 Lakhs, of which ₹6.00 Lakhs has been deposited. TVS Electronics has filed a Writ Petition in the Madras High Court seeking further relief.