Dear all,
I want to know, if a factory registred under ESIC scheme is purchased by a new employer while the process & employees remain same.
then the new employer has to get his establisment registred under ESIC scheme again or a mere application of transfer of existing ESIC code to new employer is sufficient??
Please advice.
Thanks
yamir khan

From India, Pune
Dear Khan
Usually in cases like yours, the new buyer generally intimates the concerned Regional office of the ESIC and gets a permission. In almost all cases the existing old ESI Code number is retained and no new code number is issued. Similarly the liability if any arising on the later date would solely rest on the shoulder of the new buyer under Sec. 93(A) of the ESI Act. Hence a prudent move would be to, call the local area ESI inspector and get the assessment done until the tentative date of transfer to ascertain the actual dues. This could be a perfect "Due Diligence" process.

From India, Madras
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2021 Cite.Co™