Grasim Industries slapped with ₹2.57 crore fine for delays in provident fund transfers, according to ET LegalWorld.

The Regional Provident Fund Commissioner, Ranchi has imposed a penalty of ₹ 2,56,99,858 on Grasim Industries Limited’s Chemical Division Unit at Rehla. The penalty was imposed due to a delay in transferring accumulated provident fund balances of employees from a trust to the Employee’s Provident Fund Organization (EPFO) on the amalgamation of Aditya Birla Chemicals (India) Limited with Grasim Industries Limited. An appeal has been filed against the order. Grasim Industries Limited received the order on October 14, 2024, and apologizes for the unintentional delay in reporting the issue to the stock exchange. The company had to disclose the penalty to the exchange under regulations.