IDBI capital Market services limited is a wholly owned subsidiary of IDBI Bank and has been non compliant in the matter of implemmnetation of PF act, It had selecetively exclused about 170 employees for teh period from September to December. All other employees wre covered and these persons did not fall in teh exempted/ excluded category as per the Act. It isn anct of Volunr=tary non compliance that too by an enterprise falling under the aigis of Central Government. The Managing Director Nagendra Bhatnagar is personally resposible for the same. The HR person who tried to correct the postion was dorced to resign from the services of the services of the company.
There was an objection in teh audit also, but some how they have managed the same
Strict action needs to be taken against Nagendra Bhatnaga
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