Streamlining PF Registration and Employee Transfers: Expert Advice

Dear All,

I am working in a small company incorporated in May '07 and would like to apply for a PF Code for my company. Now the question/problem is that the company promoters have some other small companies, and all the employees (total strength is around 20) salary have shifted to the account of the new company (for which I am applying for PF) w.e.f. Sep '07. The appointment letters issued to them are also in the name of the old company. The following questions arise:
1. How can I show these employees on the new company payroll?
2. How can I show these employees in the attendance register?
3. If I am applying for a PF Code in Dec., should I deduct the PF from the Dec. month salary onward?
4. After deduction of PF, how can we submit it to the Bank (Procedure)?

Please help me with the above matters.

Regards,
Dev

Dear Dev,

First, create a separate PF code for your new company by applying the PF Registration form to the concerned PF office. Enroll your old employees into your new company, and then transfer their funds from your old company account to the new one. It is essential to transfer their PF account to the present/new account of PF.

Regards,
Gowrishankar.G

Dear Member,

If all the small company owners/directors are the same, you can amalgamate all small companies under one registration under the Companies Act. Produce these certificates before the EPF authorities and get a common employer code (New/Old). Transfer all old EPF contributions to the new (Common) Employer code and submit Transfer Form (Form 13 Revised) for every member covered under EPF.

Regards,
Murugavel B.
Chennai

Hi! This is Sreekanth from Bangalore. Nice to meet you. Please help me. Recently, I started an IT services company and new employees have joined. I want to apply for PF accounts for them. What is the process? Please help me out!

Thanks & regards,
Sreekanth
09379063847
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