Grant Of 72 Instalments To Pf Defaulters - PDF Download

Dear friends,
Pl see attached circular dated 11.4.2012.
Thanks

The defaulters in fact have been rewarded. They do not need to pay the interest on the outstanding amount, as is made out of the circular, as there is no condition for payment of interest imposed. It is a defective order. The big Companies who usurp the legitimate dues of the employees have been very cheaply let off the hook. It means the law is only for the "have-nots". The "Haves" are allowed to have more. This is increasing the Rich-Poor divide in India. There is no provision to put the defaulters behind the bar. But they are just rewarded by such foolish circulars.
Mera Bharat Mahan

I hope you read the circular properly.
It's intended to facilitate recovery
Only for industries that have been declared sick (and therefore you can't recover in normal mode)
And only those who have not defaulted on paying employees share.

Declaring one-self sick means beyond any recovery. It is a sort of "Bankruptcy , Insolvency , Ruin , Liquidation , Impoverishment , Indebtedness ". How a such a Sick person good for a any sops. Rather their assets and liabilities are worked out and the debt are cleared by selling the assets of the company.
These Big industrialists are looting the country in connivance with the politicians. First they want (a) cheap land and subsidies (b) The Tax Free regime (c) Price Preference (d) Quotas (e) other concessions (f) Eat up Tax and employees' dues (g) sell every thing off clandestinely and run away (h) above all they want immunity for all their misdeeds and go Scot-free.

Dear Aggarwal
thanks for sharing the information. However I am not in favour of giving any concessions/reliefs to industrialists/ employers who are showing artificial scaricity, lossess, etc just to make the poor masses fool with a view to gain the symathy of the govt,. After all govt of today "is govt for the corporates, of the corporations and by the corporations" All political parties get funds form the corporate sector for spending in elections. and they are rewarded many conessions in taxes.
RL Dhingra, Advocate,
Labour Law Consultant, Delhi
09818309937
email:rld_498@rediffmail.com

Thanks for the useful info..
plz answer my queries....
1) my co is not a declared sick co but we are running in loss since last few months & had plant close for about 2 months so can we avail this facility??
2) our MD has asked us to stop pf & restructure sly break up can we use this circular & impose employees ( voluntarily) for stop of pf decution giving the reason of more take home sly ??
plz guide me

our co is hardly 2 yrs old co & is going through monetary problems/ lots of production loss resultant we were always doing late payment & in past two months our plant was totally closed?? Further Our MD has instructed for stoping pf from co so can we use this situation in favour of co & stop pf , facilitating employees with more take home salary & further no pf deduction???