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PF

18 April 2009

Dear Friends,

Can any one suggests on the below topic.

A Pvt Ltd Co. (having 150 employees) incorporated in 2006-07 and has not registered under PF Act & nor PT Act. The Auditor who audited the Balance Sheets for last 2 Years also not taken care of these Statutories.

Now the company rougly caculated PF Liability its coming upto Rs.30Lakhs, since the Co has not made any deductions from Employees it is not ready to pay such a huge amount.

Now it is planning to windup the existing Company & Incorporating another Company. It this ok to do so? What steps company shall take to rectify.

Please help me out.

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2 Replies

CA Harbinder (CA ) (1245 Points)
Replied 18 April 2009

Originally posted by :Ayesha Banu A
"	Dear Friends, Can any one suggests on the below topic. A Pvt Ltd Co. (having 150 employees) incorporated in 2006-07 and has not registered under PF Act & nor PT Act. The Auditor who audited the Balance Sheets for last 2 Years also not taken care of these Statutories. Now the company rougly caculated PF Liability its coming upto Rs.30Lakhs, since the Co has not made any deductions from Employees it is not ready to pay such a huge amount. Now it is planning to windup the existing Company & Incorporating another Company. It this ok to do so? What steps company shall take to rectify. Please help me out.	"