Dear Sirs,
Please guide me on what to do with the ESIC coverage ( ESIC code no) in the event of SALE of company...while few of the employees will be joining the new company which already have a separate ESIC code.....
If we have to apply for cancellation of the code then what is the procedure...
regards
Satya
9963940404
From India, Bombay
Please guide me on what to do with the ESIC coverage ( ESIC code no) in the event of SALE of company...while few of the employees will be joining the new company which already have a separate ESIC code.....
If we have to apply for cancellation of the code then what is the procedure...
regards
Satya
9963940404
From India, Bombay
Sir(s),
As per provisions contained under section 93A of ESI Act, 1948 the person to whom the unit is transferred by sale etc. is also liable for payment of contribution due under said Act upto the date of such transfer.
Though, you could have continued old Code Number, but since you have obtained new code number for sold unit, hence it will be appropriate to inform ESIC appropriate Regional Office as well as Inspection Office about sale of unit so that there may not be assessment of contribution for future periods under said Act.
If required by the appropriate office of ESIC, the verification of records of sold unit can also be conducted upto the date of sale.
With regards;
Harsh Kumar Mehta
From India, Noida
921As per provisions contained under section 93A of ESI Act, 1948 the person to whom the unit is transferred by sale etc. is also liable for payment of contribution due under said Act upto the date of such transfer.
Though, you could have continued old Code Number, but since you have obtained new code number for sold unit, hence it will be appropriate to inform ESIC appropriate Regional Office as well as Inspection Office about sale of unit so that there may not be assessment of contribution for future periods under said Act.
If required by the appropriate office of ESIC, the verification of records of sold unit can also be conducted upto the date of sale.
With regards;
Harsh Kumar Mehta
From India, Noida
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