In the case of EPF Exempted Organization, there was a failure of compliance pertaining to EDLI. Company has not any 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 & possible to pay any insurance for the previous completed years?
No insurance company will give you backdated insurance covers.
So you need to talk to the PF department and pay the charges for the previous years and file late returns.
In fact, when you speak to your PF Consultant, they will tell you what to do.
If you don't have a consultant, just speak to the PF department and they will mostly be able to tell you how to close it. But if you are expecting to escape without paying, it is unlikely
From India, Mumbai
2383So you need to talk to the PF department and pay the charges for the previous years and file late returns.
In fact, when you speak to your PF Consultant, they will tell you what to do.
If you don't have a consultant, just speak to the PF department and they will mostly be able to tell you how to close it. But if you are expecting to escape without paying, it is unlikely
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.
Third party compliance audit of exempted establishments by CAs 29.1.2014.pdf