stellalauren
Stella Lauren
With the economic slowdown resulting in raising corporate defaults, including that for PF dues, the labor ministry wants to enable EPFO to use Sarfa Esi to recover its dues from defaulting companies. Since “The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Act of 2002” now allows only banks to recover loans from defaulters, sources said the labour ministry will have to seek finance ministry’s help to bring in necessary amendments to the Sarfa Esi.