HYDERABAD: It looks as though the financial straits of the TSRTC are unending. The corporation has to pay dues to the tune of Rs 1,700 crore immediately. In a recent instance, the Provident Fund regional commissioner served a notice to RTC management for not depositing Rs 760.62 crore PF amounts of its employees.
The notice directed the RTC managing director to appear before PF regional commissioner on November 15 with complete information on the PF amounts of RTC employees. If the management failed to deposit the PF amounts, the office may impose a huge penalty on the management.
The latest notice from the PF office will push the RTC further into debts. The High Court had recently directed the RTC to deposit Rs 200 crore into the RTC employees thrift and credit society within six weeks’ time. Further, the State Transport Authority had served another notice on the RTC to pay Rs 452.86 crore as transport tax dues.