P.f Related Query - CiteHR
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Dear all,
I am working with a construction company, the prime company was started in 1997, and they had p.f number, then the company was renamed but the pf account was not closed. In the year 2009 we started to employ direct employees since then we had only projects and no human capital was employed,. at present we have 31 employees at executive level and they work in virtual office, their salaries are more than 30000 per month,kindly help me out in this critical issue.
whether we are liable for any penalities, do we need to register for pf for our employees
Thanks and regards,
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Just by renaming the company your responsibility to comply with EPF schemes will not come to an end. If the old PF is not closed there could be chances of assessment and if so done you will be bound to pay PF with interest and Damages.
If the new company has obtained new registrations and licences from the concerned authorities to run your business then you can say that your company is newly set up and file a fresh form 5A (EPF) which gives details of the Directors/ owners of the company. Then a new number will be given to your establishment and you will be directed to pay the PF from the date on which your company (new company) had 20 employees on rolls. It is immaterial if most of your employees are drawing salary of more than Rs 6500 (as you said they are getting more than Rs 30000) but the number of employees taking all employed will be considered for coverage.
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