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Byju’s fails to make PF payments as liquidity crisis worsens
Nikhil Patwardhan
Nikhil Patwardhan
Byju’s last paid its provident fund contribution for its 16,000-plus employees for the month of November 2023. This could see it hauled up by the Employees’ Provident Fund Organisation for flouting EPF rules.
April 19, 2024
3 MINS READBeleaguered edtech unicorn Byju’s has stopped making provident fund (PF) payments to employees as the financial crisis deepens at the embattled edtech firm. The company has also delayed salary payments for the past three months.
According to official data obtained by The CapTable from the Employee Provident Fund Organisation (EPFO), employees of Think & Learn Pvt Ltd, the parent company of Byju’s, have not received their provident fund payments since December of last year. Despite PF deductions being shown on employees' salary slips, these contributions have not appeared in their PF passbooks, as confirmed by sources who have shared PF passbook records with The CapTable.
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