A is a holding company & B was subsidiary company . A is mainting PF TRUST for both company A & B . later on A sold B and B become a separate company . The A company transfer pf balances of B's employees to EPFO. 1.The PF TRUST of A having 50 crores (surplus) at the time of transfer of B's employees fund to EPFO. whether there are any right of B's employees on trust surplus as they are also the member of A company PF TRUST ? 2. The trustee has distributed bonus only to employees of COMPANY A before transfer the fund to EPFO for employees of B ? please suggest course of action ?
Read more at: https://www.caclubindia.com/experts/...try_id=1219824
From India, Indore
Read more at: https://www.caclubindia.com/experts/...try_id=1219824
From India, Indore
Since the transfer of fund to EPFO with respect to employees of 'B' Company has taken place after bonus distribution to members of PF Trust belonging to 'A' company, the employees of B company are also entitled in the same proportion as the bonus amount was earned based on their contribution too. Equity demands so. The employees of B company can approach EPFO for getting their share transferred from PF Trust of A Company.
From India, Mumbai
1534From India, Mumbai
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PF Transfer Request Letter - For PF Trust.doc
HC All - Trainees not covered for PF -2010.pdf