Hyderabad: Directors of private firm arrested for PF fraud

Hyderabad: Hyderabad City Police on Monday arrested three directors of a private firm on charges of cheating their employees by deducting the amounts from their salaries toward provident fund (PF) and tax deduction at source (TDS) and failing to remit the same in their respective accounts.

As reported by media reports, the accused have been identified as Sanjay Kanodia (52), Seema Kanodia (48), and Bheemreddy Shamsundar Reddy (40).

Pervacio India Pvt. Ltd., a software company has around 61 employees. The directors deducted nearly Rs. 1 crores from their employees’ salaries towards provident fund and TDS and failed to remit the same to the concerned departments.

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Three were arrested on Monday and will be produced before the court to remand for judicial custody.

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