Indore : Two leading business units of Pithampur, Force Motors and Rosy Blue, came on the radar of sleuths of the Employees Provident Fund Organisation (EPFO) on Friday, when officials conducted search action there. EPFO realised Rs 5 crore from both bigwig units.
This is the first such action when EPFO has realised such a huge amount in a day. According to official information, EPFO received inputs of irregularities in providing PF benefits to employees, by both the companies. Under the section 8F of the PF Act the Department attached the bank accounts of the both the companies and instructed banks to transfer the required amount to the EPFO’s bank accounts.
Area Inspector Mukesh Saraswat and Uttam Dubey received the drafts of the said amount from IDBI Bank and HDFC Bank. PF Commissioner Ajay Mehra said that both the companies were not depositing the amount fixed under section 7A. Hence, the EPFO realised the amount by attaching their bank accounts.
It may be recalled that the Force Motors is a leading automobile company of the country and it manufactures Traveler buses at its Pithampur plant.
Similarly, Rosy Blue is also a leading diamond cutting and finishing company of the country. However, its modus operandi of conducting business is away from the lime light due to the risk involved in the diamond trade.
