Nippon Life India Asset Management Limited has informed the Exchange about intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
NAM-INDIA · price
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Nippon Life India Asset Management has received an order dated April 7, 2026, from the Regional PF Commissioner-II, EPFO, under Section 7A of the Employees Provident Funds & Miscellaneous Provisions Act, 1952. The order directs payment of Rs. 36,54,699 as balance EPF and allied dues for international workers engaged by the company for the period May 2013 to March 2017. The discrepancy arose because the company calculated EPF dues only on basic wages, excluding personal pay, conveyance, and medical reimbursement. The company must also pay applicable interest under Section 7Q and damages under Section 14B, with full payment due within 60 days. The company has stated there is no material impact on its financials, operations, or other activities.
The financial impact is negligible given the order size (Rs. 36.55 lakhs) relative to the company's scale, and management has confirmed no material impact. This is a routine EPF compliance matter and is unlikely to affect the stock price.