Nippon Life India Asset Management to Pay EPFO Dues of Rs. 36,54,699 for International Workers
Nippon Life India Asset Management Limited received an order on April 7, 2026, concerning the payment of balance E.P.F. and allied dues. This order pertains to international workers engaged by the company for the period spanning from May 2013 to March 2017.The requirement stems from an order issued under Section 7A of the Employees Provident Fund & Miscellaneous Provisions Act, 1952. The financial implication noted in the communication is Rs. 36,54,699/- (Rupees Thirty Six lakhs Fifty-Four Thousand Six Hundred and Ninety-Nine Only).
According to the details provided, the dues are related to balance E.P.F. and allied dues for the specified period concerning international workers. The order also notes that the company may be liable to pay interest under Section 7Q and damages under Section 14B of the Act.
Key Details of the Communication
The operational timeline and financial details regarding the dues are summarized below:| Detail | Information Provided |
|---|---|
| Date of Communication Receipt | April 7, 2026 |
| Authority Issuing Order | Regional PF Commissioner-II, Employee's Provident Fund Organisation (EPFO) |
| Period Covered | May 2013 to March 2017 |
| Primary Dues Amount | Rs. 36,54,699/- |
| Due Date for Payment | Within 60 days of receipt of the Order |
The EPFO order highlighted that the original calculation of dues by the Company was based only on basic wages, excluding personal pay, conveyance, and medical reimbursement for the international workers.
The expected financial implication detailed includes the amount of Rs. 36,54,699/- and applicable interest under Section 7Q of the Act. Despite the liabilities noted, the documentation stated that there is no material impact on the financials, operations, or other activities of the Company as a result of the Order.
The company plans to address the required payments by paying the balance E.P.F. and allied dues of Rs. 36,54,699/- along with applicable interest before the due date.
NAM-INDIA Stock Price Movement
Nippon Life India Asset Management Limited shares edged higher today, closing at ₹903.2, which marked an 8.78% gain for the period. The stock experienced robust trading volume of 2.43 million shares, finishing the session well above its day's low of ₹860.Source:
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