Nokia officials created 94 fake PF accounts, siphoned off ₹19.33 crore; CBI registers case
The EPFO's Zonal Fraud Risk Management Committee found large-scale discrepancies and identified 94 non-genuine beneficiary accounts that had received provident fund payments.
- Jul 31, 2026,
- Updated Jul 31, 2026 12:57 PM IST
The Central Bureau of Investigation (CBI) has registered a case against two senior Nokia employees in Mumbai for the alleged wrongful withdrawal of provident fund money. The case involves the siphoning of ₹19.33 crore from the Employees' Provident Fund Organisation (EPFO) through the creation of fake provident fund accounts.
The accused have been identified as Vaibhav Verma, Payroll Cluster Lead, and Kamaraju Mutyala, Head of Payroll Management. According to the CBI's FIR, the two allegedly created 94 fictitious EPF accounts during 2023-24 and diverted ₹19.33 crore into these accounts. The FIR also names unidentified public servants and private individuals for their alleged role in the conspiracy.
The fraud came to light after Nokia shifted from being an exempted establishment under the Employees' Provident Fund Act to the regular EPFO system. Earlier, the company managed provident fund contributions through its own privately managed PF trust. In July 2023, Nokia applied to surrender its exemption status and, after approval, transferred all past member accumulations to the EPFO. It began operating as an unexempted establishment from September 2023.
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The irregularities were detected during the processes following this transfer. The EPFO's Zonal Fraud Risk Management Committee found large-scale discrepancies and identified 94 non-genuine beneficiary accounts that had received provident fund payments.
Nokia conducted an internal forensic audit which identified Verma and Mutyala as responsible for processing the fraudulent fund transfers. The forensic examination recovered deleted submission files from the accused's laptops, electronic records containing details of individuals who were not employees, false employment confirmations, and KYC approvals for fake accounts processed using official credentials.
Following the internal probe, Nokia suspended both employees, initiated disciplinary proceedings, and informed the EPFO about the fraud. This led to the registration of the CBI case.
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A Nokia spokesperson said, "Nokia takes compliance seriously and is committed to the highest standards of ethics and integrity in its business practices. We are fully cooperating with the relevant authorities in connection with their investigation. As this is an ongoing matter, we are unable to comment further on the specifics of the case."
The case has been registered under relevant provisions of the Bharatiya Nyaya Sanhita, the Prevention of Corruption Act, and the Information Technology Act.
The Central Bureau of Investigation (CBI) has registered a case against two senior Nokia employees in Mumbai for the alleged wrongful withdrawal of provident fund money. The case involves the siphoning of ₹19.33 crore from the Employees' Provident Fund Organisation (EPFO) through the creation of fake provident fund accounts.
The accused have been identified as Vaibhav Verma, Payroll Cluster Lead, and Kamaraju Mutyala, Head of Payroll Management. According to the CBI's FIR, the two allegedly created 94 fictitious EPF accounts during 2023-24 and diverted ₹19.33 crore into these accounts. The FIR also names unidentified public servants and private individuals for their alleged role in the conspiracy.
The fraud came to light after Nokia shifted from being an exempted establishment under the Employees' Provident Fund Act to the regular EPFO system. Earlier, the company managed provident fund contributions through its own privately managed PF trust. In July 2023, Nokia applied to surrender its exemption status and, after approval, transferred all past member accumulations to the EPFO. It began operating as an unexempted establishment from September 2023.
MUST READ | What a new report says about India's digital banking frauds
The irregularities were detected during the processes following this transfer. The EPFO's Zonal Fraud Risk Management Committee found large-scale discrepancies and identified 94 non-genuine beneficiary accounts that had received provident fund payments.
Nokia conducted an internal forensic audit which identified Verma and Mutyala as responsible for processing the fraudulent fund transfers. The forensic examination recovered deleted submission files from the accused's laptops, electronic records containing details of individuals who were not employees, false employment confirmations, and KYC approvals for fake accounts processed using official credentials.
Following the internal probe, Nokia suspended both employees, initiated disciplinary proceedings, and informed the EPFO about the fraud. This led to the registration of the CBI case.
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A Nokia spokesperson said, "Nokia takes compliance seriously and is committed to the highest standards of ethics and integrity in its business practices. We are fully cooperating with the relevant authorities in connection with their investigation. As this is an ongoing matter, we are unable to comment further on the specifics of the case."
The case has been registered under relevant provisions of the Bharatiya Nyaya Sanhita, the Prevention of Corruption Act, and the Information Technology Act.