Pune: MSRTC Employees Face Financial Strain As PF Payments Remain Pending For Four Months
Pune, 18th February 2025: Employees of the Maharashtra State Road Transport Corporation (MSRTC) continue to grapple with financial uncertainty as their Provident Fund (PF) payments have remained unpaid for the past four months. Despite a recent 15% hike in bus fares, which the administration justified as necessary for purchasing new buses and stabilizing the corporation’s finances, the financial crisis within MSRTC persists.
Transport Minister Pratap Sarnaik had defended the fare increase, emphasizing the need for revenue to improve MSRTC’s fiscal health. However, the administration’s inability to clear PF dues since October has severely impacted employees, preventing them from accessing their savings when needed.
The loss-ridden MSRTC is now relying on the State Government for financial assistance to clear the outstanding PF payments. However, no funds have been allocated yet. While employees retiring from the corporation are receiving their funds within a month, those currently in service are left in limbo, unable to withdraw their PF for urgent financial needs.
The situation has exacerbated hardships for employees, who require ₹480 to ₹490 crore per month for their PF installments. With no immediate resolution in sight, workers continue to struggle as the corporation and the government adopt a wait-and-watch approach.
