Pune: Provident Fund Department To Attach Assets, Bank Accounts And Arrest Company Owners To Recover Dues

Sumit Singh

Pune, 5th December 2023: The Employees Provident Fund Office (EPFO) is geared up for speedy recovery of dues owed to establishments (companies).

Recovery officer cum Assistant Provident Fund Commissioner B M Kandpal informed that processes like confiscation of movable and immovable assets, attachment of bank accounts and arrest of owners will be implemented in this campaign.

Many establishments in Pune Akurdi region have arrears demand and no positive response has been received despite appeals from time to time. Therefore, as per the directives of the Employees Provident Fund Organisation (Ministry of Labour and Employment), a special recovery campaign will be conducted during the period of three months from December 2023 to February2024. In this campaign, procedures like confiscation of movable and immovable assets, attachment of bank accounts and arrest of owners will be implemented if the concerned establishments do not pay the dues.

K Ravindra Kumar Regional Provident Fund Commissioner – I has appealed that the said action should be avoided and all the defaulting firms should deposit their outstanding amount as well as interest and penalty as soon as possible, otherwise recovery action will be taken as per the provisions of the Provident Fund Act.