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What happens with the PF money
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<blockquote data-quote="Lord Nemesis" data-source="post: 2094768" data-attributes="member: 632"><p>^^ The money is deposited to PF offices. Companies cannot earn interest on money unless they are lying about opening the PF accounts. If the PF account is opened, money has to be deposited on timely basis, otherwise the company will be penalized for delays by the PF office. For example in one instance, Wipro in Mumbai was made to pay over 5 crore in penalty for delay in depositing PF amount.</p><p></p><p>[ATTACH=full]66106[/ATTACH]</p></blockquote><p></p>
[QUOTE="Lord Nemesis, post: 2094768, member: 632"] ^^ The money is deposited to PF offices. Companies cannot earn interest on money unless they are lying about opening the PF accounts. If the PF account is opened, money has to be deposited on timely basis, otherwise the company will be penalized for delays by the PF office. For example in one instance, Wipro in Mumbai was made to pay over 5 crore in penalty for delay in depositing PF amount. [ATTACH=full]66106[/ATTACH] [/QUOTE]
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What happens with the PF money
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