SpiceJet has not deposited EPF for 2.5 years
As per a report, SpiceJet has not deposited the Employees’ Provident Fund contributions of its 11,581 staff since January 2022.
NEW DELHI: In yet another financial trouble brewing at SpiceJet, the cash-starved airline is said to have not deposited employees’ provident fund (EPF) dues over nearly two-and-half years.
As per a report, SpiceJet has not deposited the Employees’ Provident Fund contributions of its 11,581 staff since January 2022.
This information was provided by the Employees Provident Fund Organisation (EPFO) in response to a financial channel’s RTI query. This is not the first time that SpiceJet has been accused of delaying the EPFO deposits due to a shortage of funds. Since the last few years, the airline has missed the timeline for depositing TDS and delayed salary payments to employees on multiple occasions.
EPFO said they issued notices and summons under Section 7A of the EPF and MP Act 1952 against the airline for not depositing its contributions.
The airline is facing various legal disputes regarding non-payment to lessors in courts. Then the current management is involved in a lengthy legal battle with KAL Airways and former promoter Kalanithi Maran. There are also reports that SpiceJet is operating on a cash-and-carry mode at all its airports in India.
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