CAG raises questions on additional PF deduction of Rs. 371 crore
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Dhanbad, Dec. 6 -- The CAG has raised question on the PF cut of Rs. 371 crore on live encashment by Coal India. PF deduction on live encashment is illegal. There were continuous cuts for five years. The case came first in the CAG report. Now the question has been raised that Coal India has not adjusted the said amount even after a long time.
The Supreme Court ruling related to this came in 2008 which stated that there will be no deduction of PF on live encashment. Some amount was also deposited in the CMPF. After disclosure in the CAG report, PF deposits were closed on live encashment in CMPF. CMPF official sources said that some amount is deposited with the coal companies. The complaint of the case reached the Ministry.
Published by HT...
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