Retail | Subhiksha pays part of employees PF dues

Retail | Subhiksha pays part of employees PF dues
PTI
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First Published: Tue, Mar 17 2009. 10 18 PM IST
Updated: Tue, Mar 17 2009. 10 18 PM IST
New Delhi: Distressed retail chain Subhiksha Trading Services Ltd on Tuesday said it has made a payment of Rs73.87 lakh towards the company’s employees provident fund dues and is talking to its financial stakeholders to arrange the remaining payments.
“As committed, our managing director R. Subramanian has made a payment of Rs73.87 lakh to the PF authorities”, Subhiksha said in a statement, adding that was the amount available to his credit in his personal PF account. The company’s action came a week after the order issued by the PF Commissioner in Chennai directing Subramanian to pay Rs1.76 crore to the employees as PF dues.
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First Published: Tue, Mar 17 2009. 10 18 PM IST