Satyajit Ray Film & Television Institute deposited excess PF contribution of Rs 1.89 cr: CAG

The country”s top audit body, the Comptroller and Auditor General of India, flagged that an academic institution under the Ministry of Information and Broadcasting deposited excess Provident Fund contribution of Rs 1.89 crore for its 89 employees.

The top auditor said the excess deposit by the Satyajit Ray Film and Television Institute, Kolkata, was in contravention of the Employees” Provident Fund and Miscellaneous Provisions Scheme, 1952.

The SRFTI, an academic institution under the Ministry of Information and Broadcasting, is substantially financed by Government of India through grants-in-aid.

The bye-laws of the Institute provide that the Provident Fund of its employees will be guided by the scheme.

The I&B Ministry in January 2021 has also directed SRFTI to immediately revert to making a matching contribution of employer (SRFTI) at 12 per cent of the pay, restricted to a maximum of Rs 1,800 per month, the CAG said in its report for 2018-19 that was tabled in Parliament on Wednesday. Outlook India