Dear
Professional Colleagues,
Ministry
of Corporate Affairs (MCA) has issued an update w.r.t Incorporation through SPICE+.
As
Registration for EPFO and ESIC shall be
mandatory for all new companies incorporated w.e.f 23rd February 2020.
MCA
has clarified that new companies incorporated through
SPICe+ and thereby have obtained EPFO/ESI numbers will have
to file statutory returns only when they cross thresholds prescribed under the
relevant Acts.
Threshold limit of employees under The Employees' Provident Funds And
Miscellaneous Provisions Act, 1952 is every establishment which is a factory engaged in any industry
specified in Schedule I or any other establishment notified by Central
Government in which twenty
or more persons
are employed.
Threshold
of employees under Employees’ State Insurance Act, 1948 is a factory in which ten or more persons are employed.
Your
queries or suggestion are highly appreciated.
CS Prashant Kishanani
+919999934484/8851685638
Csprashantkishanani@gmail.com
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