Provident fund exemption undertaking binds employers and trustees to comply with conditions and promptly transfer funds after cancellation. Provident fund exemption undertaking requires the employer and board of trustees to comply with conditions for exemption under the Code on Social ... Summary
Provident fund exemption undertaking binds employers and trustees to comply with conditions and promptly transfer funds after cancellation.
Provident fund exemption undertaking requires the employer and board of trustees to comply with conditions for exemption under the Code on Social Security, 2020, including later conditions for continuation. On cancellation of exemption, they must promptly transfer funds within the prescribed or directed time limit; failure attracts applicable consequences under the Code. The undertaking binds successors and assignees and is executed by the employer or trust chairman and all trustees.
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