No Tags Found!

Parvati Hoogar

Dear Sir/Madam,
We have two pvt ltd companies with 4 employees with one & 8 employees with another company ... we thought of merging 2 companies to introduce ESI ..
kindly any one let me know the procedures merging the 2 firms.
Thanks & Regards,
Parvati Hoogar

From India, Hubli
Parvati Hoogar

One of the company is partnership company... We are merging partnership company into sister private limited company. In partnership company we have 4 employees, who needs to be transferred to sister private limited company.
I would like to know to the procedure to be followed for transferring these 4 employees to sister private limited company.
What kind of documentation or letters we need to provide for employees ?
In case any employee still serving under 1year service agreement with active bond. Do we need to prepare new service agreement in the sister private limited company name ?
If Yes on above query, What would be his/her service period should be considered in service agreement under service bond ?

From India, Hubli

The process would involve dissolution of the partnership firm and suitably amending the incorporation of the private ltd. company to take over the assets and liabilities of the partnership firm. But confining the answer to the human aspect, it needs to be decided whether there is going to be continuity in service or not. The better course to avoid all future complications would be to make clean beginning by making full and final settlement of all service claim of all the employees with regard to the partnership firm and start afresh in the private limited company as fresh entrants, with new offer of appointment, probation etc. The alternative providing for continuity could be by issuing a new order by the Private limited company specifying the terms of service like continuing the service agreement bond with the partnership firm, other weightage for past service etc. Take acceptance of the transfer terms by the employees under transfer to the private ltd. company. The terms could be as decided by the new company and there is no hard and fast rule in this regard.
From India, Mumbai

No merging or amalgamation is possible. However assets and liabilities of the partership firm can be taken over by the limited co in exchage of shares allotted to the partners of the partnership firm. Other alternative is to convert the partnership firm into a limited company and then merge the two companies or amalgamate them. As two establishments are different in nature & its propritoship are different.
By the process any one of the establishment will loose its existance.Then the best way is to give Full and Final to the workmen of the establishment which is going to loose its existance. Then enroll in new establishment but you need to be quite serious over the matter, however there should not be lapse. If required you may take help of leagal opinion of one secially deals in company regd matters.

From India, Mumbai
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.

Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR

All Copyright And Trademarks in Posts Held By Respective Owners.