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Edtech startup Byju’s making up shortfall to India pension fund – Yahoo Singapore News

Edtech startup Byju’s making up shortfall to India pension fund – Yahoo Singapore News

 

NEW DELHI (Reuters) -Indian education technology startup Byju’s has made up a shortfall in payments to a national pension fund, a lawyer representing the company – which is battling a U.S. lawsuit over a $1.2 billion loan – told Reuters on Tuesday.The comments from Zulfiquar Memon of MZM Legal came after labour ministry sources told Reuters that India’s Employees Provident Fund Organisation (EPFO) had identified a shortfall in payments from Byju’s for August 2022 to May this year.The sources said Byju’s had deposited 1.23 billion rupees ($15 million) following a directive issued by the EPFO, and that the remaining balance of… 

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