September 25, 2022
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Spicejet Financial Crisis: SpiceJet may be defaulting on PF payment | India Business News

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NEW DELHI: The financial crisis at SpiceJet is hurting employees dearly. The strugglingto-survive airlines, which has delayed August salaries, is allegedly defaulting on depositing tax deducted at source (TDS) with authorities and allegedly not depositing PF in employee accounts. It is yet to give employees Form 16 for fiscal 2021-22 due to which they are facing issues in filing tax returns. It is also reportedly defaulting on some statutory payments too, claim sources.
A SpiceJet spokesperson said, “There have been certain deferral on discharging of payments but no default on any statutory payments. The company has been actively paying dues and clearing the outstanding. SpiceJet has been discharging its current GST liabilities on a regular basis. ”
“The company has been making payments as per mutually agreed payment plan and we have discharged our liabilities until February 2022. SpiceJet will receive more than Rs 200 crore next week as part of emergency credit line guarantee scheme (ECLGS) and the money will be used to clear other statutory dues and lessor payments,” the spokesperson added.
The cash-strapped airline’s troubles have been mounting in the past few months.





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