Navigating Statutory Compliance: How Do We Handle PF and ESI Changes After a Business Takeover?

Dear all, I need suggestions on the following. We are taking over a business through a Business Transfer Agreement (BTA) and would need your help to know what all statutory compliances are required, such as PF, ESI, and how to change it. If anyone can guide, it would be greatly appreciated.

Under a Business Transfer Agreement, the company that gets liquidated shall have to remove the members from its PF portal. Similarly, you should mark the workers under ESI as 'left'. The newly formed company or the one that takes over should register the employees as new employees with the same UAN numbers and ESI numbers in EPF and ESI, respectively. Employees can transfer the old PF to the new one through their respective member portals. For further assistance, please feel free to reach me.