Taking Over a Leased Factory: What Labor Law Compliance Steps Are Needed?

We are planning to take over an existing factory on lease for 10 years. This factory has already been registered under all labor laws including the Factories Act, ESI, and EPF. We may retain the same name or change it. Can you please let me know the formalities/compliance to be made under labor laws.

If the existing factory is already functioning and you wish to continue the same Factory Registration, PF & ESI, then what name will be used on your Balance Sheet? Who will derive profit out of the Balance Sheet - you or the Existing Owner? If the answer is you, then please use all your Code without any doubt.

Dear Mr. Mohan,

You are unsure about changes in name, ownership, etc. After taking the factory on lease, you have to go for amendments of changes accordingly in respect of all registrations/licenses, employee appointment letters, etc. It is too early without knowing the terms and conditions of the lease.