Is PF Payment Needed for a Company Closing Down with No Employees?

Dear Friends,

I would like to request some information. If an organization is not operational (no business, no employees) and is in the process of winding up, is there any minimum PF remittance required until it is officially wound up (by informing PF authorities)?

I would appreciate your response.

Regards,
Bhavan

Hi Bhavan,

My view is that PF can be remitted only if there is a salary payment to the employees. If there is no salary, there is no need for PF contribution.

With Regards,
PRAVEEN KUMAR E

Mr. Bhavan,

You will have to remit the minimum administrative charges for both Account No. 2 and Account No. 22 at Rs 5/- and Rs 2/- respectively per month until your PF code is cancelled.

Regards,

N. Nataraajhan,
Sakthi Management Services
(HP: +91 94835 17402;
email: natraj@sakthimanagement.com)

Dear Bhavan Ji,

The correct answer to your question is as follows:

You need to remit Rs. 75 and Rs. 25 in A/c. 2 (Admin charges on PF) and A/c. 22 (Admin charges on EDLI) respectively every month until the winding-up process of your company is completed. Once the winding-up process is complete, you have to apply to EPFO for the cancellation of the PF code allocated to your company.

I hope the knowledgeable members who responded to your query will consider my answer to be correct.

Thank you.

Dear Saswata ji,

From where did you get this figure of 7.50 per month? I am aware that the figure was 7 per month until December 2014, and I have never heard of 7.50.

Effective from 01.01.2015, by Gazetted Notification dated 02.02.2015, the minimum contribution in case of nil employees has been increased to Rs. 100/-.

Thank you.

Of course, a minimum remittance of Rs. 100/- (admin: Rs. 75/-, EDLI: Rs. 25/-) has to be remitted until the employer code is closed.