Dear all,
I own a sole proprietorship firm covered under ESIC and EPF Acts. Now, I want to convert it into a private limited firm. Is there any way to keep the very same ESIC and EPF registration numbers? I don't want to invest again in getting a new EPF or ESIC registration number.
From India, New Delhi
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I own a sole proprietorship firm covered under ESIC and EPF Acts. Now, I want to convert it into a private limited firm. Is there any way to keep the very same ESIC and EPF registration numbers? I don't want to invest again in getting a new EPF or ESIC registration number.
From India, New Delhi
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Please note that your registrations with EPF/ESI, etc., will remain the same. After conversion into a private limited company, you have to submit an online amendment for ESI and a written request to the RPFC, EPF concerned with documentary evidence.
P.K. Sharma
From India, Delhi
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170P.K. Sharma
From India, Delhi
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Dear CiteHR Member,
The present sole proprietor must be one of the directors of the proposed Pvt. Ltd. company. You need to send request letters to the concerned department for a name change from proprietorship to Pvt. Ltd. company, providing all the necessary supporting documents. They will make the changes.
It is better to close the proprietary firm and open a new ESI and PF account with the Pvt. company PAN number. There are no charges for this process, and it can be done online free of cost. Anyone can do it themselves.
From India
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The present sole proprietor must be one of the directors of the proposed Pvt. Ltd. company. You need to send request letters to the concerned department for a name change from proprietorship to Pvt. Ltd. company, providing all the necessary supporting documents. They will make the changes.
It is better to close the proprietary firm and open a new ESI and PF account with the Pvt. company PAN number. There are no charges for this process, and it can be done online free of cost. Anyone can do it themselves.
From India
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Closure of an establishment under ESIC/EPF is not a smooth process; it takes its own procedure and time. The option remains with the employer:
1) Amend the existing registrations by submission of a change of constitution. This will require a complete set of documents as needed in new registrations; only old codes will remain the same.
OR
2) Get new codes and transfer all employees to the new establishment code.
2a) Submit the bank account closure and trade license cancellation records to the departments for the cancellation of old numbers.
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1) Amend the existing registrations by submission of a change of constitution. This will require a complete set of documents as needed in new registrations; only old codes will remain the same.
OR
2) Get new codes and transfer all employees to the new establishment code.
2a) Submit the bank account closure and trade license cancellation records to the departments for the cancellation of old numbers.
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sir , i want to know how to calculate epf penalty and damage foe 2013 to 2016 exp : apr salary 2013-3550 how to calculate damage & penalty
From India, Chennai
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From India, Chennai
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Dear Ilaathippu, Please find the attached sheet for your ready reference to calculate penal damages for delay payments under section (7Q & 14 B) Thanks, Murali
From India, Gurgaon
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From India, Gurgaon
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Dear all,
Mr. Reddy's suggestion is not advisable as surrendering registrations requires certain closure documents, which are not possible to obtain while the establishment is operational. The issue is not whether fresh registrations are free or incurring costs, but rather conveying logical and legal opinions to individuals seeking clarification.
It would be more appropriate for the individual to consider amending these registrations after converting the establishment into a Private Limited company, a process that is both easy and "free."
P.K. Sharma
From India, Delhi
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Mr. Reddy's suggestion is not advisable as surrendering registrations requires certain closure documents, which are not possible to obtain while the establishment is operational. The issue is not whether fresh registrations are free or incurring costs, but rather conveying logical and legal opinions to individuals seeking clarification.
It would be more appropriate for the individual to consider amending these registrations after converting the establishment into a Private Limited company, a process that is both easy and "free."
P.K. Sharma
From India, Delhi
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Thank you all for your valuable advices . It really helped .
From India, New Delhi
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From India, New Delhi
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Dear Sir/Madam,
There are two PAN numbers - one is for the Pvt Ltd and the other is for the proprietor. The proprietary PAN is already in use; how can this be resolved? Please address the specific issues. It is advisable to consult the relevant authorities in the PF department for a better decision. Our platform is meant for discussions to find solutions. My opinion is not final, and neither is yours. Please refrain from criticizing anyone for their suggestions.
From India
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There are two PAN numbers - one is for the Pvt Ltd and the other is for the proprietor. The proprietary PAN is already in use; how can this be resolved? Please address the specific issues. It is advisable to consult the relevant authorities in the PF department for a better decision. Our platform is meant for discussions to find solutions. My opinion is not final, and neither is yours. Please refrain from criticizing anyone for their suggestions.
From India
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Dear Mr. Reddy,
My intentions are not to criticize anyone, but when the processes, procedures, and remedies are available in the law, why should we advise any shortcuts or act contrary to the provisions, such as declaring closure of the earlier establishment and obtaining new registrations?
You are correct that the PAN number will vary for proprietorships, partnership firms, and companies. However, the EPF site does not allow us to make direct alterations as is possible with ESIC. Requests for changes in name, address, or ownership are typically forwarded to the relevant Enforcement Officer, and amendments are only made following their report. The authority to make alterations is not even held by the RPFC; they serve as a recommending authority.
PK SHARMA
From India, Delhi
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My intentions are not to criticize anyone, but when the processes, procedures, and remedies are available in the law, why should we advise any shortcuts or act contrary to the provisions, such as declaring closure of the earlier establishment and obtaining new registrations?
You are correct that the PAN number will vary for proprietorships, partnership firms, and companies. However, the EPF site does not allow us to make direct alterations as is possible with ESIC. Requests for changes in name, address, or ownership are typically forwarded to the relevant Enforcement Officer, and amendments are only made following their report. The authority to make alterations is not even held by the RPFC; they serve as a recommending authority.
PK SHARMA
From India, Delhi
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