CPF - Latest News Update, Information, Photos & Videos on CPF at Lokmat Times

The decision to invest employees' Provident Fund in a shady private company is now being vociferously raised by engineers and employees union. In a letter to the UPPCL Chairman, several employees union have questioned the decision of investing money related to General Provident Fund (GPF) and Contributory Provident Fund (CPF) of employees with DHFL.The UP State Electricity Board Engineers Association (UPSEBEA) has said the Yogi Adityanath government should now ensure that the hard earned money of thousands of employees deposited with a shady company should be retrieved. "Over Rs 1,600 crore are still with DHFL. The government should get back this money. We also need an assurance from the Government that in future money with GPF or CPF trust should not be invested in such private firms," Rajeev Kumar Singh, General Secretary of UPSEBEA, told .The UPSEBEA letter reveals that the Board of Trustees (of the UP State Power Sector Employees Trust) deposited surplus fund of employees in DHFL's fixed deposit scheme from March 2017 to December 2018. Meanwhile the Bombay High Court stayed payments of DHFL in the wake of its links with several shady companies and deals.The letter further reveals that the Secretary of the Trust had admitted that as of now, Rs 1600 crore are still lying with DHFL. The Engineers Association has alleged that transferring employees funds into the account of a private firm seems to be a gross violation of norms which ensures secured funds for employees after retirement.Meanwhile, Chairman of the All India Power Engineers Federation, Shailendra Dubey, said the Yogi government should immediately initiate a probe to find out as to whose instructions the Board decided to invest employees' money with a shady company. "What Punjab and Maharashtra Co-operative(PMC) Bank did to DHFL, the same blunder has been committed by the Board. To me, it seems to be another scam which needs a thorough investigation", Dubey told .Relating to the controversial decision of transferring GPF and CPF funds to DHFL, the spoke to Alok Kumar, Principal Secretary (Energy) in UP and the Chairman of the UPPCL. However, instead of replying to the queries, Alok Kumar requested to text the questions to him. At the time of filing, Kumar had not answered the questions.After unearthing the Dawood gang land deals, the Enforcement Directorate is probing DHFL's alleged links with Sunblink Real Estate, through which money was laundered and routed to Dubai at the behest of Mirchi, a former member of Dawood Ibrahim gang.DHFL Chairman Kapil Wadhawan and his brother Dheeraj, who are promoters of DHFL, were recently questioned by the ED for over Rs 2,186 crore loans given by the mortgage lender to the realty firm.(Deepak Sharma can be contacted at deepak.s@.in)( With inputs from IANS )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Salman Khan

CpfFOLLOW

Cpf, Latest News

National :ADGP Jammu oversees security at Yatri Niwas for ongoing Amarnath Yatra

Ramban (Jammu and Kashmir) [India], July 3 : Additional Director General of Police Jammu Mukesh Singh on Sunday visited ... ...

International :Residents of Pakistan's Karak protest against lack of gas, other facilities, block highway

Residents of the Pakistani city Karak staged protests and blocked the Indus Highway with burning tyres for seven hours over lack of gas, other basic amenities on Saturday, local media reported. ...

Other Sports :AICF faction feud casts doubts over Chess Olympiad team

Chennai, July 3 The power struggle in the All India Chess Federation (AICF) between two factions has now ... ...

National :UP govt approves CBI inquiry into Power Corporation EPF scam case

Uttar Pradesh Additional Chief Secretary Avnish Awasthi on Sunday said that the state government has given approval for a CBI inquiry into a case of alleged investment of over Rs 2,600 crores of Uttar Pradesh power employees' provident fund money in ...

National :Employees' money in UP invested in Mirchi-linked firm of Wadhawans ( Exclusive)

Uttar Pradesh government's alleged dealing with controversial Mumbai company, Dewan Housing Finance Corporation Limited (DHFL), has caused a stir in Lucknow. In a questionable decision, the state-owned UP Power Corporation Ltd (UPPCL) has reportedly ...