Notice u/s 17B of the EPF & MP Act 1952
Querist :
Anonymous
(Querist) 19 May 2011
This query is : Resolved
Received a Notice u/s 17B of the EPF & MP ACT 1952 requiring us to liquidate the amount patable earlier owner in terms of section 17B of the Act. Facts are as follows:
- Land and Building were purchased from XYZ Co
- They had some arrears of X amount and where served recovery certificate
- Now PF Authority wants to recoer the said amount X from us as we have possession of the assets of the said XYZ Co.
What are the legal remidies available to us against
- PF Authorities
- XYZ Co.
A K CHANDOK
(Expert) 31 May 2011
Dear Sir, Section 17-B deals with the Liability in case of transfer of estt.and provides that the employer and the person to whom the estt is so transferred shall jointly and severally be liable to pay the contribution and other sums due from the employer ------ in r/o the period upto the date of such transfer Provided that the liability of the transferee shall be limited to the value of the assets obtained by him by such transfer.
It has been held in a case that --but it does not include the amount of damages.in another case, it has been held that ---only those dues which stood already quantified as due in r/o a transferred estt come within the purview of Sect. 17-B
With Regards,
Chandok- RPFC (Retd.)
09988021715
