Oil and Natural Gas Corporation, Indian Oil Corporation, Bharat Heavy Electricals Ltd, HMT and Maruti Udyog Ltd are among the corporates that defaulted in remitting their provident fund share to the Employees Provident Fund Organisation, Labour Minister Sahib Singh Verma announced in New Delhi on Thursday.
Other central public sector undertakings that figure in the list of defaulters include Indian Drugs and Pharmaceuticals, Hindustan Fertliser Corporation, Central Warehousing Corporation and Vishakapatnam Steel Plant, Verma told a press conference in New Delhi.
Together 229 central PSUs owed Rs 37.14 crore (Rs 371.4 million) to the EPFO, out of which Rs 5.64 crore (Rs 56.4 million) had been recovered and Rs 31.5 crore (Rs 315 million) is yet to be realised.
The total arrears, which central and state PSUs and the private sector owe to the EPFO, stood at Rs 1756.21 crore (Rs 17.56 billion), of which total realisable was a mere Rs 571 crore (Rs 5.71 billion), or 33 per cent of the total amount (as of July 31).
Out of the currently locked-up capital, state PSUs accounted for Rs 353 crore (Rs 3.53 billion), central PSUs Rs 315 crore (Rs 3.15 billion) and the private sector Rs 1088 crore (Rs 10.88 billion), he said.
Asserting that the EPFO will not spare any one found guilty of defaulting, Verma pointed out that a general manager of Madhya Pradesh State Road Transport Corporation was one of the 68 defaulters arrested.
He said bank accounts of 1118 establishments have been attached, properties have been attached in 52 cases and showcause notices for arrest were issued to 237 people.
The minister, who is also the chairman of the Central Board of Trustees of EPFO, said among the defaulting central PSUs were Instrumentation Limited, Central Tobacco Research Institute, Chennai Petroleum Corporation, Madras Fertilisers, Jessop and Company, Central Inland Water Transport Coporation, Bharat Petroleum Corporation, and Hindustan Copper.
