Byju’s employees to finally get their PF dues, EPFO board member assures

By Ankita ChakravartiThe popular ed tech platform Byju’s, which has been under radar for firing people in large numbers, was accused of not paying its employees the provident fund since the month of October. However, now an EPFO board member has assured that the company will pay the employees their hard-earned money. Raghunathan KE, representing employers on the EPFO Board, has addressed concerns by stating that the Employees Provident Fund Organisation (EPFO) will ensure that all Byju’s employees receive their pending provident fund (PF) dues.

In a telephone conversation with Moneycontrol, Raghunathan reassured Byju’s employees that the EPFO, their custodian of social security, will ensure the return of their hard-earned money.”When the EPFO becomes aware of such matters, it thoroughly investigates them. The company will also be given a reasonable amount of time to present their side. The EPFO’s responsibility is to ensure the survival of the employer while ensuring that employees do not lose their employment and receive their savings,” Raghunathan explained.

Previously, a Moneycontrol report alleged that Byjus’s has delayed payments to employees since October 2022. As per the data obtained from EPFO, the majority of employees had not received their PF payments for April and May. This despite the company deducting the PF portion from their salaries every month.

Shivkumari Mishra, a former Byju’s employee, narrated her ordeal on Linkedin. She revealed that she has not received her PF since the month of November 2022.“I have been banging my head to all the HR I requesting to make it fast because now it is becoming a major issue, all Iget to hear is wait for 30 days,” her post says.

Another ex-employee, Aravind Gummadi, shared his experience on LinkedIn, revealing that during his time at Byju’s, his provident fund (PF) contributions were not credited to the Employees Provident Fund Organisation (EPFO) for a period of five months, despite the amount being deducted from his salary. Gummadi disclosed that he worked at Byju’s from November 2021 to April 2023, and despite making numerous follow-ups, he never received any communication or updates from the HR department regarding the issue.

Byju’s has consistently maintained that it has cleared all pending PF dues. Founded by former teacher Byju Raveendran over a decade ago, the company has raised over $5 billion, with the majority secured in the past five years. However, recent events have taken a toll on the company. It has lost its auditor, Deloitte, and non-promoter board members. Byju’s has also been engaged in a legal dispute with its term loan B lenders for over six months, resulting in mutual lawsuits filed in US courts. Additionally, in April, the Enforcement Directorate, India’s financial probe agency, conducted searches at Byju’s offices in Bengaluru under the provisions of the Foreign Exchange Management Act.