Provident Fund
This query is : Resolved
Nishant Baid
(Querist)
02 July 2010
Sir,
If the employee does not claim his outstanding PF or Gratuity payable to him. Then can this amount be written off or transfered to some other fund ? Please advice me in this regard.
Thanks in advance
Nishant Baid
+919830711011
If the employee does not claim his outstanding PF or Gratuity payable to him. Then can this amount be written off or transfered to some other fund ? Please advice me in this regard.
Thanks in advance
Nishant Baid
+919830711011
Ashok Malhotra
(Expert)
05 July 2010
Dear Nishant,
Liabilities are written back not written off. I do not think, any liability towards an employee can be written back especially PF and Gratuity. Rather, you have to make effort to and keep records to show that you have all possible efforts to release the payment.
He need not claim, It is your duty to pay once the liabilities has been recognised in books
CA Ashok K Malhotra (FCA)
Liabilities are written back not written off. I do not think, any liability towards an employee can be written back especially PF and Gratuity. Rather, you have to make effort to and keep records to show that you have all possible efforts to release the payment.
He need not claim, It is your duty to pay once the liabilities has been recognised in books
CA Ashok K Malhotra (FCA)
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