Transport employees in Tamil Nadu allege diversion of PF funds for State Corporation’s daily expenditure

By Express News Service  |   Published: 17th May 2017 04:25 AM  |  

 

CHENNAI: Employees of State Transport Corporations have alleged that funds collected via Employee Contributions are being used as working capital for daily expenditure of the corporations.

Citing a report by the Comptroller and Auditor-General, Express had reported in 2010, that 34,000 pensioners will be left dry by 2018 as the funds were being diverted.

Nearly seven years later, employees still complain that their contributions are being misused as the corporation lacks enough operating funds. “Employees’ contribution such as Provident Fund, gratuity which we contribute believing that it will benefit us, are never available to us when we need it the most.

Every time one of us ask for emergency medical loan or wedding loan for our daughters from Provident Fund, we’re met with the reply that there isn’t enough money,” said P Balakrishnan, president of CITU (MTC workers union).