\n<\/p>\n
TeamLease Faces EPFO Notice Over Fund Management Issues<\/strong><\/p>\n TeamLease, a staffing firm based in India, has received a notice from the Employees\u2019 Provident Fund Organisation (EPFO), which operates under the Ministry of Labour and Employment. <\/p>\n In its filing to the National Stock Exchange on April 28, the company reported that this notice brings up concerns regarding how they manage and administer funds through the Employees\u2019 Provident Fund Trust. <\/p>\n The notice outlines various issues, including investment losses, losses from selling bonds and debentures, misuse of reserves, and missing documentation for certain employee-related claims. <\/p>\n At the heart of the notice is a claim amounting to around INR 1.84 billion (approximately USD 19.4 million), which TeamLease is contesting. <\/p>\n The company mentioned that it had previously reached out to the Regional Provident Fund Organisation in Bengaluru, receiving clarification that they only need to cover any shortfall noted in their balance sheet\u2014which they say they addressed as of March 30, 2022. <\/p>\n In their statement, TeamLease noted they are actively working with the relevant department to resolve the matter. <\/p>\n On April 28, TeamLease shares ended the day at INR 1,245, reflecting a slight decrease of 0.40%.<\/p>\n\n","protected":false},"excerpt":{"rendered":" TeamLease Faces EPFO Notice Over Fund Management Issues TeamLease, a staffing firm based in India, has received a notice from the Employees\u2019 Provident Fund Organisation (EPFO), which operates under the Ministry of Labour and Employment. In its filing to the National Stock Exchange on April 28, the company reported that this notice brings up concerns<\/p>\n","protected":false},"author":1,"featured_media":30185,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[28],"tags":[],"class_list":{"0":"post-30184","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-india-news"},"_links":{"self":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts\/30184","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/comments?post=30184"}],"version-history":[{"count":0,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts\/30184\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/media\/30185"}],"wp:attachment":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/media?parent=30184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/categories?post=30184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/tags?post=30184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}