Free 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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