TeamLease Services Limited has filed an appeal with the Hon’ble High Court of Gujarat against an order received from the Employees’ Provident Fund Organisation (EPFO) under Para 26B of the Employees’ Provident Fund Scheme, 1952. The company received this order on March 11, 2026, concerning the applicability of PF on NEEM trainees deployed by TeamLease Skills University (TLSU), a university under a Public-Private Partnership with the Government of Gujarat. The EPFO order, dated March 11, 2026, issued by the Regional Provident Fund Commissioner, Vadodara, raises the issue of PF applicability on NEEM trainees. However, the order does not quantify any provident fund dues, interest, damages, or financial liability. Consequently, there is no immediate or ascertainable financial impact on TeamLease Services Limited as of the date of the appeal filing. This matter was previously disclosed as a contingent liability in the consolidated financial statements for FY25. TLSU is challenging the office order before the High Court and will seek an appropriate stay on its operation. The company is optimistic about obtaining similar relief as in a related matter where TLSU obtained a favourable interim stay from the Hon’ble High Court of Madras, given that the present case rests on identical facts relating to the NEEM Scheme. TeamLease Services Limited remains committed to ensuring full compliance with applicable laws and regulatory requirements.
