Provident Fund
ria
(Querist) 20 October 2009
This query is : Resolved
Dear All,
Kindly enlighten me on the procedure for creating a trust for Provident fund of employees in any organisation.
Sachin Bhatia
(Expert) 20 October 2009
Section 12AA
PROCEDURE FOR REGISTRATION.
(1) The Commissioner, on receipt of an application for registration of a trust or institution made under clause (a) of section 12A, shall - (a) Call for such documents or information from the trust or institution as he thinks necessary in order to satisfy himself about the genuineness of activities of the trust or institution and may also make such a inquiries as he may deem necessary in this behalf; and
(b) After satisfying himself about the objects of the trust or institution genuineness of its activities, he - (i) shall pass an order in writing registering the trust or institution;
(ii) Shall, if he is not so satisfied, pass an order in writing refusing to register the trust or institution, and a copy of such order shall be sent to the applicant :
Provided that no order under sub-clause (ii) shall be passed unless the applicant has been given a reasonable opportunity of being heard.
(1A) All applications, pending before the Chief Commissioner on which no order has been passed under clause (b) of sub-section (1) before the 1st day of June, 1999, shall stand transferred on that day to the Commissioner and the Commissioner may proceed with such applications under that sub-section from the stage at which they were on that day.
(2) Every order granting or refusing registration under clause (b) of sub-section (1) shall be passed before the expiry of six months from the end of the month in which the application was received under clause (a) of section 12A.
ria
(Querist) 20 October 2009
Dear Sachin
Thanks a lot.
So this also applies to a Trust which is created for the Provident fund of employees in any organization.
Raj Kumar Makkad
(Expert) 20 October 2009
Repeated quarry. It can be created under EPF & MP Act, 1952 also.
