In the case of EPF Exempted Organization, there was a failure of compliance pertaining to EDLI. The company has not availed any life insurance or private insurance for about 8 years and has not submitted any returns pertaining to the PF office (Forms 3, 4, 7). As the PF office has issued a notice of this, how to close this non-compliance and come out of this issue? Is it necessary and possible to pay any insurance for the previous completed years?
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No insurance company will give you backdated insurance coverage. So, you need to talk to the PF department, pay the charges for the previous years, and file late returns. In fact, when you speak to your PF Consultant, they will advise you on what steps to take.
If you don't have a consultant, just speak to the PF department, and they will mostly be able to guide you on how to close it. But if you are expecting to escape without paying, it is unlikely.
From India, Mumbai
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2637If you don't have a consultant, just speak to the PF department, and they will mostly be able to guide you on how to close it. But if you are expecting to escape without paying, it is unlikely.
From India, Mumbai
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Third party compliance audit of exempted establishments by CAs 29.1.2014.pdf