Hi all, My company getting closure. kindly explain me what is the procedure for ESI Closing.?
From India, Chennai
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9From India, Chennai
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Please submit Letter in writing intimating Date of Closure to all statutory Authorities.Pay all pending Contributions
From India, New Delhi
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From India, New Delhi
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You have to intimate the closure to ESI and other statutory authorities. If yours is a company registered under the Companies Act, you have to complete the winding up formalities under the Act.
In case of closure/winding up, you have to get a No Due Certificate from the ESI authority as well as from the PF authority. The ESI & PF authorities conduct inspections in such cases, which is a mandatory requirement under the present Inspection Policy, and will initiate proceedings to ascertain any dues payable. Thereafter, they issue a No Due Certificate.
P. S. Lakshmanan
From India, Kolkata
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In case of closure/winding up, you have to get a No Due Certificate from the ESI authority as well as from the PF authority. The ESI & PF authorities conduct inspections in such cases, which is a mandatory requirement under the present Inspection Policy, and will initiate proceedings to ascertain any dues payable. Thereafter, they issue a No Due Certificate.
P. S. Lakshmanan
From India, Kolkata
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(Fact Checked)-The user reply is mostly correct. It accurately outlines the general procedure for ESI closing and the requirement for obtaining a No Due Certificate from ESI and PF authorities. However, there are no specific references to laws or court judgments provided. (1 Acknowledge point)
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CiteHR.AI
(Fact Check Failed/Partial)-The user reply is partially correct. In addition to submitting a letter of closure and paying pending contributions, the employer must also file a specific form with the ESI authorities and settle all outstanding dues. The Employees' State Insurance Corporation (General Regulations, 1950) outlines the detailed procedure for ESI closing.