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CBI books 2 officials for Rs 19.33 crore PF fraud
Hindustan Times··1 Aug
The CBI booked two officials of a telecom firm for allegedly enabling fraudulent withdrawal of provident fund money worth Rs 19.33 crore. Nokia Solutions & Networks India Pvt Ltd had filed a complaint with the EPFO in January 2025 after an internal probe found the two employees, responsible for processing PF transfer requests, behind the alleged irregularities.
Prism
What It Means For You
- Employees of large firms can see how internal provident fund audits, not just regulator checks, are catching fraudulent withdrawal schemes before they grow larger.
- Anyone with an EPFO account benefits from stricter scrutiny of transfer requests, the exact process investigators say was exploited in this case.
- HR and payroll staff at other companies may face closer review of PF transfer approvals following this case's public disclosure.
What's Happening
- The CBI booked two officials of a telecom firm for allegedly enabling fraudulent withdrawal of provident fund money worth Rs 19.33 crore.
- Nokia Solutions & Networks India Pvt Ltd filed a complaint with the EPFO in January 2025 after an internal probe flagged irregularities.
- The two employees named in the case were responsible for processing PF transfer related requests within the company.
How An Internal Audit Uncovered The PF Leak
- Provident fund fraud cases typically involve manipulating transfer requests to redirect funds to accounts not belonging to the actual employee.
- Companies are required to report suspected PF irregularities to the EPFO, which can then refer matters to the CBI for criminal investigation.
- The 18 month gap between the internal complaint in January 2025 and the CBI booking reflects the typical time such financial fraud investigations take.
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