Dear all,
XYZ Pvt Ltd, parent company has purchased an asset i.e., a piece of land from abc Pvt Ltd which is an Establishment under EPF act, abc Pvt ltd was in arrears with EPF well before the asset is sold.
The parent company has got demerged and the said asset has been transferred to one of its resulting companies.
Now the EPF authorities demands the arrears from resulting company taking the plea of 17B of the EPF & Misc Prov act,if not paid they wants to attach the asset which has been bought from them.
Is the demand of the authorities valid?
Kindly suggest me.
Regards
Sudhir kumar
