A case of over Rs 100 crore irregularities has come to light in the Employees’ Provident Fund Organization ie EPFO. After the matter came to light, EPFO has suspended 11 of its employees. Out of this, 8 officers had already been suspended. While the remaining three have recently been shown the way out of work. EPFO has suspended these employees from its Mumbai region office.
However, a key accused officer in this case is absconding. The case of such a huge misappropriation in the capital related to the Provident Fund of the common people has been transferred to the CBI and a thorough investigation is going on. 100 crore scam has come to light during the investigation. Further, this figure can be more than Rs 100 crore.
In order to provide relief to the people in the coronavirus lockdown, the EPFO had relaxed the conditions related to withdrawal, taking advantage of which such a big scam was carried out, due to the loss of income and loss of jobs, a large number of people withdraw money from their provident fund. which needed to be settled immediately, senior officers shared their login passwords with other employees so that maximum settlement could be done in less time, some junior employees took advantage of this and withdrew money from multiple accounts
Use of long-closed accounts
A large number of such accounts are lying closed inside the EPFO in which no contribution has been made for a long time because the company has been closed, these accounts were used for embezzlement of money, these accounts were closed by the accused employees in the beginning. Some minor capital was poured and later the entire money was withdrawn from these accounts through fake documents under the guise of Karona. Some of the accounts from which money has been withdrawn are accounts related to small companies in which there are contributions of common people, now they will have to struggle hard to get their money back, so all the subscribers of EPFO have to pay their dues from time to time. They should check the account in which they can also get information about interest income and remaining contribution.
Common people have high hopes from EPFO
There are more than 6 crores subscribed and connected with EPFO who contribute a part of their salary every month to EPFO for their future pension and rest needs, the fund manager of EPFO has more than 15 lakh crore corpus. EPFO holders will not be affected in the scam of 100 crores, but such a big case definitely lowers the trust of the people.
