Wednesday, March 08, 2006

RDCIS Mgt is sitting quitely on our request to remove the Chairman and Secretary of the HSPF Trust. Nor they are releasing the Surplus Revenue for payment to members. With this in view I raised a fresh representation to RPFC, Ranchi as the old incumbent has been transferred. The contents and its history was discussed with him today. For the present we have his +ve assurance.

--President SEEA
***************
No. SEEA/P/RPFC/ 0602
08th March 2006

Regional Provident Fund Commissioner,
Employees P. F. Organisation Regional Office,
Bhagirathi Complex, Near Circuit House,
Karamtoli, Ranchi –834001 (Jharkhand)

Sub: Delay in Payment of P.F. Revenue surplus for the years 1996-97 to 2000-2001.by HSPF Trust to its members

Dear Sir,

This is to bring to your kind notice that even after a clear directive by CPFC, New Delhi a sum of over Rs. One crore ‘Revenue surplus’ earned by Hindustan Steel Provident Fund Trust (SAIL Units at Ranchi) for the years 1996-97 to 2000-2001 continues to be illegally held and not paid to the members.

Ruling of the CPFC in Para 2 of his letter dated 21st Nov 2003 enclosed with the letter of RPFC Ranchi dated 8th Dec.2003 addressed to the then ED & I/c RDCIS (a copy endorsed to us) is as follows. Quote ”As per Rule 24 of the HSPF Trust Rules the entire surplus earned by the Trust in a year is to be distributed among the members of the Trust on pro-rata basis in the same year which implies that surplus available with the Trust is to be distributed among all members of the Trust existing between 96-97 to the date of declaration of surplus interest”. Unquote.

In light of this, non-payment of the Revenue surplus for over two years after the above order stands as the clear violation of the CPFC’s directive and HSPF Trust Rules. About two dozen members of our Association made individual representation to the Chairman of the HSPF Trust with no avail. This was followed by individual representation to RPFC, Ranchi (copy enclosed) and our meeting with him for quick redressal of our grievances. We again represented to RPFC, Ranchi in late January this year for early release of the payment.

I, therefore, request you to kindly order for early release of the surplus revenue to our members.

Thanking You,

Yours faithfully,

(V. N. Sharma)
Encl: a/a

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