In a major relief to former employees of JCT Limited, the Employees’ Provident Fund Organisation (EPFO) will credit the remaining Rs 46.65 crore towards their long-pending Provident Fund (PF) dues into their respective accounts within the next seven days. The confirmation comes after Rs 17.73 crore has already been credited to the PF accounts of former employees of the company’s Phagwara unit against the total payable amount of Rs 64.38 crore.
The settlement of PF dues of former employees of JCT Limited’s Filament Unit at Hoshiarpur has also reached its final stage and the payable amount will likewise be credited to the respective accounts within the same timeframe.
Confirming the development, Regional Provident Fund Commissioner Pankaj Kumar stated the EPFO Regional Office, Jalandhar, had made sustained endeavours to facilitate the release of outstanding PF dues of former employees of both units. He acknowledged that the affected workers had been awaiting the settlement of their accumulated Provident Fund savings for a prolonged period and that the delay had triggered considerable uncertainty among former employees and their families.
Supplying details of the Phagwara unit’s settlement, Kumar noted the total payable sum, comprising PF contributions up to December 2022 and interest calculated up to the financial year 2022–23, stood at Rs 64.38 crore. Of this sum, Rs 17.73 crore had already been credited to the respective PF accounts, leaving a balance of Rs 46.65 crore. He stated that the remaining amount would be credited to the accounts of eligible former employees within the next seven days.
