TeamLease Services Limited has announced a restructuring within its senior management personnel effective May 20, 2026. The company disclosed that Mr. Navin Patil has been elevated to the position of Head - Human Resources. He previously held the role of Deputy Head - Human Resources within the organization.

Management Transition Details

The transition in designation was formalized on May 20, 2026. The change is part of the company's internal realignment of its human resources function. The disclosure was made to the stock exchanges in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015.

Profile of the Appointee

Mr. Navin Patil brings extensive experience to his new role. He has been associated with teamlease services from 2010 to 2016 before rejoining the organization in September 2018. His professional exposure spans various aspects of Human Resources, including HR Business Partnering, Talent Acquisition, HR Operations, and Learning & Development (L&D).

Prior to his tenure at TeamLease, Mr. Patil worked with organizations such as Quikr India, Allsec Technologies, Aegis, and Academy for Knowledge & Skill. He possesses a total work experience of 19 years. Academically, he holds a B.E. in Telecommunication from BMSIT, Bangalore and a Post Graduate Certificate in Human Resource Management (PGCHRM) from XLRI, Jamshedpur.

TeamLease Services Limited filed a Writ Petition on May 12, 2026, with the Hon'ble High Court of Karnataka, challenging a Show Cause Notice (SCN) issued by the Employees' Provident Fund Organisation (EPFO). The SCN, dated April 13, 2026, and received by the company on April 23, 2026, pertains to alleged contraventions in the administration and management of funds by the Employees' Provident Fund Trust. The company disclosed this development to the stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and in accordance with SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Details of the EPFO Show Cause Notice

The following table summarises the key details of the Show Cause Notice as disclosed by the company:

Nature of Allegations

The EPFO's Show Cause Notice alleges certain contraventions in relation to the administration and management of funds by the Employees' Provident Fund Trust. The key observations cited in the notice include:

• Investment Losses
• Losses on sale of Bonds and Debentures
• Misappropriation of Reserves
• Certain employee-related amounts reflected as recoverable, for which supporting documentation has been sought

Company's Position and Legal Action

TeamLease Services disputes the quantum of the claim as stated in the notice. The company has noted that prior to the surrender, it had sought clarification from the Regional Provident Fund Organisation, Bengaluru (Central), wherein the employer is allowed to fund only to the extent of the shortfall arrived as per the Balance Sheet, and the same was funded on March 30, 2022. The company has stated that it is working closely with the department to resolve the demand.

In response to the SCN, the company filed a Writ Petition with the Hon'ble High Court of Karnataka on May 12, 2026, ahead of the hearing scheduled on May 13, 2026. TeamLease Services also noted a delay of 5 days in submitting this intimation to the stock exchanges, attributing it to unavoidable administrative exigencies and the time taken to ascertain the materiality threshold of the Show Cause Notice. The company is currently evaluating the notice and will take appropriate legal action, reaffirming its commitment to ensuring full compliance with applicable laws and regulatory requirements. TeamLease Services has stated that it will keep the stock exchanges duly informed of any material developments in this matter.