EPF issues new private company
This query is : Resolved
06 November 2021
A new private company got EPF registration as required during incorporation few months back. The company has no employees so far. In EPF portal after login following information is displayed.
NOTE: My company has obtained EPFO Registration number at the time of its incorporation though the employment strength has not reached the threshold limit of 20 for applicability of the EPF & MP Act 1952. I understand that my company has to start compliance under the Act once the employment strength reaches 20. I also understand that in case my company does not start the compliance even after reaching the threshold limit of employment EPFO may take appropriate action under the Act on receipt of any complaint or information from members or any third party.
After that there is option to choose act applies to my establishment: 1) EPF act applies to my establishment 2) voluntary coverage application as act doesn't apply. These are some queries that I have in this regard.
1) Can the company just leave without doing anything about EPF? (Since it's mentioned in note compliance will be started after number of employees reaches 20)
2) Will there be any penalty for filing nil EPF return (since no employees) for previous months?
Looking forward to your reply. Thank you.
NOTE: My company has obtained EPFO Registration number at the time of its incorporation though the employment strength has not reached the threshold limit of 20 for applicability of the EPF & MP Act 1952. I understand that my company has to start compliance under the Act once the employment strength reaches 20. I also understand that in case my company does not start the compliance even after reaching the threshold limit of employment EPFO may take appropriate action under the Act on receipt of any complaint or information from members or any third party.
After that there is option to choose act applies to my establishment: 1) EPF act applies to my establishment 2) voluntary coverage application as act doesn't apply. These are some queries that I have in this regard.
1) Can the company just leave without doing anything about EPF? (Since it's mentioned in note compliance will be started after number of employees reaches 20)
2) Will there be any penalty for filing nil EPF return (since no employees) for previous months?
Looking forward to your reply. Thank you.
06 November 2021
1 Leave without doing anything.
2 No penalty.
2 No penalty.
17 November 2021
Thank you so much for the reply. I have one more question in this regard.
1) Whether filing EPF return is compulsory when an entity taken registration but having less than 20 employees?
1) Whether filing EPF return is compulsory when an entity taken registration but having less than 20 employees?
17 November 2021
Not compulsory in such a case.
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