PROVIDENT FUND TRUST CLOSURE BY EMPLOYER

[PRASANTA KHATAI]

Dear All

Please guide on the following :

As an EMPLOYER , we want to know the procedure and formalities for closure of PROVIDENT FUND TRUST being maintained by us.

TRUST is having certain securities and unclaimed amount left over by the EMPLOYEES since last more than 10 years.

What should be the specific line of action to successfuly close and winding of the same with all statutrory compliances,

Thanking You

Prasanta Khatai,

New Delhi

Cell No.98188 30315 

 

[DR.MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in this issue and close the trust?

AI Summary

Provident fund trust closure requires steps for asset reconciliation, beneficiary notification, and statutory compliance before winding up. An employer seeks the procedural and formal requirements to close a Provident Fund trust that holds securities and unclaimed employee balances older than ten years, requesting the specific actions to wind up the trust while ensuring all statutory compliances, beneficiary notifications, trustee resolutions, filings with regulators, and retention of closure documentation.