A proprietorship firm has transferred its business to a private limited company. The proprietor continues as a Director in the Pvt co. All existing employees are transferred to the Pvt co.
New PF & ESIC Registrations
Whether new PF & ESIC registrations need to be obtained for the Pvt co or should the proprietorship's establishment details be updated by filing form 5A? Please help.
From India, Pune
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New PF & ESIC Registrations
Whether new PF & ESIC registrations need to be obtained for the Pvt co or should the proprietorship's establishment details be updated by filing form 5A? Please help.
From India, Pune
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EPFO provides updation s of establushment details by way of 5A.Submit relate documents pertaining to change.
From India, Vadodara
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382From India, Vadodara
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Differences Between Proprietorship and Private Limited Entities
Proprietorship and private limited are different entities with distinct statuses. Please inquire with the relevant Regional Office (RO) to determine if migration is permissible. Otherwise, a fresh registration must be obtained for the private limited entity, while the proprietorship registration needs to be surrendered. Subsequently, after transferring the employees to the new establishment, the total process remains the same across all departments, given that all registrations are PAN-based, including GST and professional tax.
Guidance from Regional Office and Legal Advisors
The Regional Office and the advocate who drafted the memorandum can provide better guidance in this context and explain the clauses related to migration.
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Proprietorship and private limited are different entities with distinct statuses. Please inquire with the relevant Regional Office (RO) to determine if migration is permissible. Otherwise, a fresh registration must be obtained for the private limited entity, while the proprietorship registration needs to be surrendered. Subsequently, after transferring the employees to the new establishment, the total process remains the same across all departments, given that all registrations are PAN-based, including GST and professional tax.
Guidance from Regional Office and Legal Advisors
The Regional Office and the advocate who drafted the memorandum can provide better guidance in this context and explain the clauses related to migration.
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Steps to transfer PF amount.jpg
13revised (PF TRANSFER).pdf