Winding up of a company operations in TN & Karnataka

Hi,

Do we have any process for winding up the operations or closing down the branch in TN & Karnataka.

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Hi, @rekha can you also brief us on the type of establishment that you’re referring to? and also on the number of employees do you have currently?

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Hi,

Pvt firm, the branch is having only currently 2 employees.

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Hi

In general, Please list out all your registrations in that branch then surrender all certificates / submit closure letters to concern authorities along with certificates.
After accept by all authorities, you can winding off the branch

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Thanks. Do you have any list. We are able to remember only professional tax. Nothing else.

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Hi Rekha,

Please specify the following to clarify better:

  1. Is it a Private Limited Company or Partnership Firm (a registered Partnership Firm as per Indian Partnership Act) or a Limited Liability Partnership?
  2. Are you looking for just the closure of a branch in TN & Karnataka, respectively?

Based on your information, someone from the team may help you with the required information.

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Dear Rekha,
The procedure for closure of a business entity depends on its constitution i.e the type of the entity as suggested by Ms.Bhuvana_ Anand.
So far as the legal requirements of compensation to the employees affected by such closure, you have to observe the formalities provided for in Chapter V-A or Chapter V-B of the Industrial Disputes Act,1947 as may be applicable to your establishment.
Since, the total no of employees in your establishment is only two, you have to serve them one month’s notice or pay one month salary in lieu thereof, pay them retrenchment compensation @ 15 days average wages for every completed year of service on the date of closure and send the copy of the above notice to the State Commissioner of Labor and area Labor Officer. All the three things should be done simultaneously. For further details, pl refer to sec.25-F of the IDA,1947

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Thanks a lot for info

Rekha

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