Dear Sir, at present, PF and ESIC Codes have been allotted to Mr. X, who was supposed to go abroad for a short period. However, Mr. X will not be returning to India. In this circumstance:
Option 1: Transfer of Business Ownership
Mr. X has handed over his business to Mr. Y. In that case, can we change the owner's name in the PF and ESIC allotted codes in favor of Mr. Y? If yes, which documents/forms does Mr. Y need to submit to the PF and ESIC Office? Or does Mr. Y need to apply for a new PF and ESIC Code?
Option 2: Power of Attorney
Mr. X has given power of attorney to Mr. Y for running his business. As a power of attorney holder, can Mr. Y deposit PF and ESIC challans regularly in the PF and ESIC Codes allotted to Mr. X?
Sir, please guide us.
Thank you.
Regards, Pradip
From India, Ahmedabad
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1Option 1: Transfer of Business Ownership
Mr. X has handed over his business to Mr. Y. In that case, can we change the owner's name in the PF and ESIC allotted codes in favor of Mr. Y? If yes, which documents/forms does Mr. Y need to submit to the PF and ESIC Office? Or does Mr. Y need to apply for a new PF and ESIC Code?
Option 2: Power of Attorney
Mr. X has given power of attorney to Mr. Y for running his business. As a power of attorney holder, can Mr. Y deposit PF and ESIC challans regularly in the PF and ESIC Codes allotted to Mr. X?
Sir, please guide us.
Thank you.
Regards, Pradip
From India, Ahmedabad
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