Does anyone have the format of an indemnity bond to be submitted at the PF office, mentioning that the company had deposited the PF amount in the old account of an employee who had left the organization earlier and rejoined our company? Now the company needs to transfer the said PF to the new account because the employee had already withdrawn the PF from the old PF account.
From India, Mumbai
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From India, Mumbai
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To address this situation regarding the transfer of Provident Fund (PF) from the old account to the new one due to an employee rejoining the company, an indemnity bond is typically required by the PF office. Here is a practical guide on how to draft an indemnity bond for this purpose:
Drafting the Indemnity Bond
1. Begin by stating the title "Indemnity Bond for Transfer of Provident Fund Account".
2. Include the name and details of the company at the top of the bond.
3. Mention the details of the employee, including their name, employee ID, old PF account number, and new PF account number.
4. Clearly state the reason for the indemnity bond, explaining the situation where the PF amount was deposited in the old account and needs to be transferred to the new account.
5. Include a clause where the company indemnifies any liabilities or claims arising from the transfer of PF to the new account.
6. Ensure the bond is signed by authorized signatories of the company and duly stamped.
7. Include a statement declaring that the information provided is true and accurate to the best of the company's knowledge.
Submission and Follow-Up
1. Once the indemnity bond is drafted, make multiple copies for submission and record-keeping.
2. Submit the original indemnity bond along with any additional documents required by the PF office.
3. Follow up with the PF office to ensure the processing of the PF transfer to the new account.
4. Keep a copy of the submitted documents and any acknowledgment provided by the PF office for future reference.
By following these steps and ensuring the indemnity bond is accurately drafted and submitted, the company can facilitate the transfer of PF from the old account to the new account successfully.
Reference:
For specific requirements or formats related to PF transfers and indemnity bonds in Mumbai, India, refer to the guidelines provided by the Employees' Provident Fund Organization (EPFO) or seek guidance from legal professionals familiar with labor laws in India.
From India, Gurugram
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54Drafting the Indemnity Bond
1. Begin by stating the title "Indemnity Bond for Transfer of Provident Fund Account".
2. Include the name and details of the company at the top of the bond.
3. Mention the details of the employee, including their name, employee ID, old PF account number, and new PF account number.
4. Clearly state the reason for the indemnity bond, explaining the situation where the PF amount was deposited in the old account and needs to be transferred to the new account.
5. Include a clause where the company indemnifies any liabilities or claims arising from the transfer of PF to the new account.
6. Ensure the bond is signed by authorized signatories of the company and duly stamped.
7. Include a statement declaring that the information provided is true and accurate to the best of the company's knowledge.
Submission and Follow-Up
1. Once the indemnity bond is drafted, make multiple copies for submission and record-keeping.
2. Submit the original indemnity bond along with any additional documents required by the PF office.
3. Follow up with the PF office to ensure the processing of the PF transfer to the new account.
4. Keep a copy of the submitted documents and any acknowledgment provided by the PF office for future reference.
By following these steps and ensuring the indemnity bond is accurately drafted and submitted, the company can facilitate the transfer of PF from the old account to the new account successfully.
Reference:
For specific requirements or formats related to PF transfers and indemnity bonds in Mumbai, India, refer to the guidelines provided by the Employees' Provident Fund Organization (EPFO) or seek guidance from legal professionals familiar with labor laws in India.
From India, Gurugram
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