Monday, February 28, 2011

PCB goofs up: Staff PF money deposited in CEO’s account

Ishfaq Naseem Posted online: Mon Feb 28 2011,
Pune : Instead of crediting the last two years' arrears of the Sixth Pay Commission of its 994 employees in their provident fund (PF) accounts, the Pune Cantonment Board (PCB) deposited the amount in the account of its chief executive officer (CEO), thereby denying them the money which they were already promised over one-and-a-half-year ago.
This was brought out by an RTI application filed by BJP city labour front unit president Shashidhar Puram.
In reply, the PCB has informed him that Rs 2.9 crore was invested towards the pay commission by the cantonment board in a nationalised bank on May 4, 2010. The fixed deposit has been kept in the name of the CEO and has been deposited with the UCO Bank at an interest of 6.5 per cent. However, cantonment board employees said due to the failure of the board to deposit the arrears in their PF accounts, they couldn't pay their income taxes as well.
Earlier, PCB had agreed to pay the arrears to the employees from January 1, 2006 to March 2009 in five installments over a period of five years. However though the PCB worked out the amount it has not been transferred to the account of employees. Employees say that they were entitled for an interest rate of 8.5 per cent.
Col SV Shotri, nominated member of the PCB who has been asked to probe the issue, said, “It is apparently a slip-up on the part of the accounts branch of the cantonment board and we will soon fix the responsibility,"