SpiceJet has not deposited the employees’ PF funds into their accounts

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SpiceJet has not deposited the employees' PF funds into their accountsAccording to a SpiceJet spokesperson, there have been a few delays in payment discharges but no statutory payments have been missed. “The company has been actively clearing the outstanding and paying dues. SpiceJet has been regularly paying off its outstanding GST obligations, the source continued.

Spicejet employees resigned over worries about growing losses

At low-cost airline SpiceJet, nothing seems to be going as planned. It has come to light that the carrier is allegedly failing to deposit pension funds into employees’ accounts, days after its chief financial officer Sanjeev Taneja resigned over worries about growing losses. In addition, tax deducted at source (TDS) deposits made by SpiceJet are allegedly not being made on time.

In comparison to the same quarter a year prior, SpiceJet reported a loss of Rs 789 crore for the quarter that ended June 30. Due to a cyber security attack, the airline had to postpone the release of its March quarter financial results.

Additionally, it claimed a delay in salary payments for the second consecutive month, despite the low-cost airline claiming the payments were made in a “graded format”. Employees of SpiceJet claimed that there was a delay in the payment of salaries to staff, including flight crew, for the month of July and that many have not yet received Form 16 for the fiscal year 2021–2022.

According to sources who spoke to ToI, the airline is also reportedly not making some statutory payments.

A airline spokesperson, however, claimed that there had been some payment deferrals but no statutory payments had been missed. “The company has been actively clearing the outstanding and paying dues. Airline has been regularly paying off its outstanding GST obligations, the source continued.

“We have discharged our obligations through February 2022 and the Company has been making payments in accordance with the Payment Schedule mutually agreed upon. As part of the emergency credit line guarantee scheme (ECLGS), SpiceJet will receive more than Rs 200 crore the following week. The funds will be used to pay lessors and other statutory obligations, the spokesperson added.

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