Hurray! Edtech giant BYJU'S puts all worries to rest as they issue a clarification confirming the clearance of all PF dues, settling delayed payments.

BYJU'S denies claims of delayed PF payments, stating that all PF dues have been cleared until June 2023, and attributes the issue to ongoing authentication problems being addressed with employees and the PF department.

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Media reports had previously suggested that the edtech giant had not settled PF dues for most of its employees.

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BYJU'S has been facing challenges, with its auditor Deloitte and three board members resigning last month.

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Prosus, a backer of BYJU'S, revealed the reason behind the resignation of its representative from the company's board, citing concerns about reporting, governance structures, and disregarded advice.

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Peak XV (erstwhile Sequoia Capital India), the second-largest institutional shareholder in BYJU'S, explained its VC fund's decision to resign from the board due to the lack of transparency in providing business updates and information to investors.

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Bloomberg reported that BYJU'S CEO Byju Raveendran allegedly broke down while defending the company during an investor call in April, following a probe agency's raid and association with possible foreign exchange violations at the company's Bengaluru offices.

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