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Our Bureau

Chennai, Feb. 19 The Employees’ Provident Fund Organisation (EPFO), Chennai, on Thursday directed discount retail chain Subhiksha Trading Services’ Managing Director, Mr R. Subramanian, to pay Rs 1.76 crore of provident fund dues within the next fortnight, failing which the company account, immovable properties and his personal properties would be attached.

The provident fund was due to 4,600 employees of the retailer for the period between June and September 2008.

The PF authorities, in a hearing session with Mr Subramanian held on Thursday, said that the amount for the months that follow will be ascertained in the next enquiry, which is likely to be in March.

The retailer has not been paying salaries to its employees since September.

The orders are being carried out under Section 7A of the Employees Provident Fund and Miscellaneous Provisions Act 1952.

Commenting on this, Mr Subramanian said he offered that the entire sum of PF monies lying to credit of his personal account may be allowed to be adjusted and treated as paid on behalf of the company towards part payment of the arrears.

“And the request is being processed by the EPFO authorities,” he said.

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