Hyderabad: Two directors of a private company, who cheated their employees by misappropriating money that should go towards their Provident Fund and Tax Deducted at Source after being deducted from their salaries, were arrested by the Hyderabad City Police on Monday.
The arrested persons were identified as Sanjay Kanodia (52) and Seema Kanodia (40), directors of M/s Pervacio India Private Limited. Avinash Mohanty, Joint Commissioner of Police, Detective Department (Hyderabad), said the two had deducted a certain amount from the salaries of their employees every month on pretext of the remitting with the PF Office and the IT department.
“After deducting the amount, they did not remit it in the official accounts and utilised it for their own purpose. An amount of Rs 1 crore was misappropriated by them,” he said, adding that based on a complaint, the police booked a case and after enquiry, arrested them.
They were produced before court and remanded.
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