Advises are required from seniors in this case:
Company/Factory A (where I am working) having its Head office in other state where some commercial, marketing and principal employer cum Director are sit. Company having two PF code, one for factory employees in the state's regional EPFO where factory situate and another for registered office’s employees in regional EPFO of office’s state.
Some senior employees who are working in the factory but their PF deduction are deposited at Head office’s PF code. The PF code as controlled by Head office having two nos authorised signatory and employer (i.e. Director) registration(through 5A) with PF office as routine as required.
As per management decision, the Head office is closed and their all the members are transferred to factory. Their PF formalities are also transferred to factory's controlled PF code, resulting in that there is no member in head office's PF code.
After that.
All of sudden, the director/principal employer and all the authorised signatory persons, with head office PF code, are also left the company resulting in there is no registered person in PF code of Head office. Now, the questions are:
(1) Company want to close this PF code even though it having its own history(20 yrs) means some of the left employee has not settled their PF settlement till now. Is it possible to close this PF code?, if yes what is procedure, if no then how long we have to maintain this code.
(2) If we have to maintain this code then minimum administrative charge has to be deposited every month?
(3) Is it required to nominate as new authorised signatory and principal employer from company’s(factory) employee for this code.
If yes, what is the procedure means resolution of Board meeting is required to nominate new authorised signatory or sufficient to submit only signatory card duly singed by new Head of the company.
Owner or principal employer has to be submitted again through 5A or not in this case.
Please suggest.
Regards,
Virendra Singh Mertia
From India, Surat
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Company/Factory A (where I am working) having its Head office in other state where some commercial, marketing and principal employer cum Director are sit. Company having two PF code, one for factory employees in the state's regional EPFO where factory situate and another for registered office’s employees in regional EPFO of office’s state.
Some senior employees who are working in the factory but their PF deduction are deposited at Head office’s PF code. The PF code as controlled by Head office having two nos authorised signatory and employer (i.e. Director) registration(through 5A) with PF office as routine as required.
As per management decision, the Head office is closed and their all the members are transferred to factory. Their PF formalities are also transferred to factory's controlled PF code, resulting in that there is no member in head office's PF code.
After that.
All of sudden, the director/principal employer and all the authorised signatory persons, with head office PF code, are also left the company resulting in there is no registered person in PF code of Head office. Now, the questions are:
(1) Company want to close this PF code even though it having its own history(20 yrs) means some of the left employee has not settled their PF settlement till now. Is it possible to close this PF code?, if yes what is procedure, if no then how long we have to maintain this code.
(2) If we have to maintain this code then minimum administrative charge has to be deposited every month?
(3) Is it required to nominate as new authorised signatory and principal employer from company’s(factory) employee for this code.
If yes, what is the procedure means resolution of Board meeting is required to nominate new authorised signatory or sufficient to submit only signatory card duly singed by new Head of the company.
Owner or principal employer has to be submitted again through 5A or not in this case.
Please suggest.
Regards,
Virendra Singh Mertia
From India, Surat
Acknowledge(0)Amend(0)
PF code surrender process
1) Surrender your trade license and close the bank account, then submit both records' copies to EPFO.
2) Until the month of the above submission, submit account 2 and 22 ₹75/- and ₹25/- challan.
3) When there is a sub-code, the principal cannot be treated as closed.
4) Change of signatory is possible by filing a fresh 5A, obtaining extracts of company director details, and inserting new details in 5A; they will become the new signatory.
For any further assistance, please contact
.
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6511) Surrender your trade license and close the bank account, then submit both records' copies to EPFO.
2) Until the month of the above submission, submit account 2 and 22 ₹75/- and ₹25/- challan.
3) When there is a sub-code, the principal cannot be treated as closed.
4) Change of signatory is possible by filing a fresh 5A, obtaining extracts of company director details, and inserting new details in 5A; they will become the new signatory.
For any further assistance, please contact
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Provident Fund - Excluded Employee - Definition.pdf