EPFO Higher Pension
This query is : Resolved
14 July 2023
Our company is under CIRP.
Actually we applied in NCLT , NCLT appoint RP . SAP has been closed.last 5 year. Case is going in NCLT till now. No employee record available, but certain employee has applied for higher pension. In this situation as a employer what to do is it rejected , if yes what reason. If any other way.
Pl mail bchabri@rediffmail.com
Actually we applied in NCLT , NCLT appoint RP . SAP has been closed.last 5 year. Case is going in NCLT till now. No employee record available, but certain employee has applied for higher pension. In this situation as a employer what to do is it rejected , if yes what reason. If any other way.
Pl mail bchabri@rediffmail.com
07 July 2024
In the situation where the company’s operations have been suspended, and there are pending issues related to employee benefits like pension claims during the NCLT proceedings, here’s how you might approach it:
1. Assess the Claim Details:
• Gather all available documentation related to the pension claims filed by employees.
• Verify the legitimacy of the claims and the details provided by the employees.
2. Consult Legal Counsel:
• Given the complexity of NCLT proceedings and employee benefit claims, consult with legal experts specializing in corporate law and employee rights.
• Seek advice on the legal obligations and liabilities of the company regarding employee benefits during insolvency proceedings.
3. Communicate with the Resolution Professional (RP):
• Engage with the RP appointed by the NCLT to handle the affairs of the company.
• Provide any relevant information or documentation related to employee claims as requested by the RP.
4. Consideration of Claims:
• Typically, during insolvency proceedings, the RP and ultimately the NCLT will decide on the validity and priority of claims, including employee benefits like pensions.
• Claims may be accepted, rejected, or partially accepted based on various factors, including the financial status of the company, available funds, and legal precedents.
5. NCLT Proceedings:
• The NCLT will adjudicate on the claims based on the evidence presented and legal arguments made by all parties involved.
• The decision of the NCLT regarding employee claims will be binding and enforceable.
1. Assess the Claim Details:
• Gather all available documentation related to the pension claims filed by employees.
• Verify the legitimacy of the claims and the details provided by the employees.
2. Consult Legal Counsel:
• Given the complexity of NCLT proceedings and employee benefit claims, consult with legal experts specializing in corporate law and employee rights.
• Seek advice on the legal obligations and liabilities of the company regarding employee benefits during insolvency proceedings.
3. Communicate with the Resolution Professional (RP):
• Engage with the RP appointed by the NCLT to handle the affairs of the company.
• Provide any relevant information or documentation related to employee claims as requested by the RP.
4. Consideration of Claims:
• Typically, during insolvency proceedings, the RP and ultimately the NCLT will decide on the validity and priority of claims, including employee benefits like pensions.
• Claims may be accepted, rejected, or partially accepted based on various factors, including the financial status of the company, available funds, and legal precedents.
5. NCLT Proceedings:
• The NCLT will adjudicate on the claims based on the evidence presented and legal arguments made by all parties involved.
• The decision of the NCLT regarding employee claims will be binding and enforceable.
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