Exemption surrender rules require public notice, transfer of accumulations, and strict limits on repeat exemption requests. An exempted establishment may seek surrender of exemption by applying to the appropriate Government, whether the exemption was granted for all employees, a class of employees, or any employee, and this may be done even if no condition of exemption has been violated. Before the application is made, the establishment and the concerned Regional Provident Fund Commissioner must issue a public notice for the information of employees. On receipt of the application, the appropriate Government may permit remittance of contributions into the Fund and process cancellation of the exemption, while the employer and board of trustees transfer accumulations, surplus and reserves to the statutory Fund pending the cancellation order.
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Provisions expressly mentioned in the judgment/order text.
Exemption surrender rules require public notice, transfer of accumulations, and strict limits on repeat exemption requests.
An exempted establishment may seek surrender of exemption by applying to the appropriate Government, whether the exemption was granted for all employees, a class of employees, or any employee, and this may be done even if no condition of exemption has been violated. Before the application is made, the establishment and the concerned Regional Provident Fund Commissioner must issue a public notice for the information of employees. On receipt of the application, the appropriate Government may permit remittance of contributions into the Fund and process cancellation of the exemption, while the employer and board of trustees transfer accumulations, surplus and reserves to the statutory Fund pending the cancellation order.
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