My self is working as associate professor in a Punjab Goverenment aided (95% grant in aid scheme) college for last 20 years. My date of appointment is 17/10/1989.
My Provident Fund Account is not maintained properly by the Principal/Management of the college. There is gross violation of EPF rules due to which we have already suffered a huge financial loss. In this grave concern I want to bring the following points for your kind consideration a
1. The college authorities are not following the General Pattern of Standard Provident Fund rules. The Provident Fund of some employees both teaching and Non teaching is being deposited with regional Provident Fund Commissioner, Amritsar (that includes Principal of the college and the non teaching staff dealing with the Provident Fund),but our provident fund is deposited in a Saving Bank Account in Allahabad bank/State Bank of Patiala in Pathankot at an interest rate of 3.5% and in between amount is sweeped to Fixed deposits( from 23/01/2007).But the overall average rate of interest is much below the present rate of interest i.e. 8.5% at present.
In this connection I have to submit that
a) Our Basic salary at the time of appointment was Rs. 2200 ( as on 17/10/89),Can management treat us as exempted employees category by not depositing the PF with you from the date of appointment/confirmation.
b) In case we are exempted can they manage PF without PF commissioner permission?
c) In case we are exempted, Do they have to follow rules of EPF?
d) Can a Management keep PF of the employees at TWO different places?
e) Can management provide lesser rate of interest on provident fund and mismanage provident fund of the few employees as per their suitability?
f) Can a Management deduct Provident fund of employee after few years of confirmation at their will?
g) Can a management Deposit Provident Fund at any date / or after few months?
[even in the ordinance at serial no.4 in the middle of line 3(copy enclosed)” such contributions shall be credited to the fund month by month”]
h) Can a management/principal deny Annual PF statement of PF account showing interest accrued and PF deposited ?( Not even a single statement is given to us till date from the date of deduction of PF)
Our college is affiliated to GNDU amritsar .(Ordinance of PF attached).
Through this letter I want to take help from all experts that how should I proceed in this matter so that my PF is deducted on time and and I get proper rate of interest .
Please help me by giving judgments relating to my case so that i can take legal course of action so that I can recover my loss of Lakhs of rupees
Valuable suggestions of all of you will be highly helpful so please guide and advice me
Thanks to all in anticipation