DTC EPF Trust invites CA forshifting of Trust work to EPFO

DTC EPF Trust invites CA forshifting of Trust work to EPFO

DELHI TRANSPORT CORPORATION

A GOVT OF NCT OF DELHI

I.P. ESTATE: NEW DELHI-110002.

No. Act./PF/2018/155 Dated:-21.05.2018 To, Sub:- Engagement of Chartered Accountant or Consultant for shifting the Employees Provident Fund Trust to EPFO. Sir, DTC Employees Provident Fund Trust invites sealed quotations from the consultants/professionals for shifting Trust to EPFO. Your are requested to quote your consolidated rate + GST in the sealed envelope for the above said work as per timeline prescribed in the enclosed limited tender document. Kindly, submit price bid along with signed tender document of DTC and the documentary evidence with regard to experience as mentioned in the clause-3 to the Dy. Manager (Tender Cell), Delhi Transport Corporation, Room No. 207, I.P. Estate, New Delhi-110002 in sealed cover, which must reach on or before 15-June-2018 by 1200 hrs. through speed post/courier/by hand etc. The offers/price bids received shall be opened on the same day at 1500 hrs. The offers received after due date & time shall not be entertained. The firms may attend the process of opening of bids on the above date, if they desire so.

(Rakesh Kumar)

Dy. Manager (P.F)

---

DTC EPF Trust invites CA forshifting of Trust work to EPFO

• Background
  • Delhi Transport Corporation (Govt. of NCT of Delhi) has its own PF Trust constituted since 1964 and since then, its affairs are being managed by DTC EPF Trust under the Guidelines/Rules of EPFO exempted U/S 17 of the Employees Provident Fund and Misc. Provident Act 1952 vide Govt of Delhi Administration Gazette notification dated 13/06/1963 and execution of Trust deed dt. 19/02/1964. While erstwhile DTU operated by MCD of Delhi. As on date, the PF Trust is having funds corpus to the tune of Rs. 1475 Crore ( Approx.) These Funds are presently invested by the EPF Trust in the FDs with Nationalised Banks, special deposit in RBI, Govt. Securities Etc.
  • Now, the DTC board vide its Resolution No. 36/2015 dt. 22/07/2015 and also endorsed by the DTC EPF Trust in its meeting dt. 22/07/2015 has resoled that the said Funds of the Trust may be put at the disposal of RPFC for better management of Funds. Accordingly, there is need of a consultant for smooth execution of the shifting of Trust work to EPFO.

• Scope of Work.

The following shall be the brief scope of work of the consultant to be engaged.

1. To help/guide the PF Trust in obtaining Cancellation/Surrendering of the exemption granted u/s 17(1) (a) of the EPF Act from appropriate govt. if required.
2. To help/guide the PF Trust in transferring the Funds of the Trust available in the various Govt. Securities/FDs with the Nationalised Banks.
3. To help/guide the PF Trust in reconciliation of funds Transferred / Balance Funds of Employees Share of Pension opted Employees.
4. To submit the record of Assets and liabilities of the Trust and statements as per requirement of the EPFO.
5. To help/guide the PF Trust in making the procedures/systems for granting/sanctioning the loans to the DTC Employees as well as for final settlement of retiring/retired employees after shifting work.
6. Any other work (which is not covered in the above) relating to transfer of the Trust or the funds of the Trust. Finally, to obtain (from EPFO) or submit work completion certificate to DTC.

• Eligibility Criteria.
  • Any firm/consultant who has undertaken the shifting work of at least one PF Trust prior to this work or work in hand as on date. The documentary evidence with regard to experience of shifting the work of any trust to EPFO needs to be submitted along with price bid.

• Periodicity of Visit:
  • The firm/consultant shall visit this office at least twice in a week or thrice half day in week as per convenience of both the parties and as per requirement of the work of the Corporation.

• Payment Terms.

1. The payment (after deducting TDS) shall be made in two instalments i.e 50% payment after shifting the work/funds of PF Trust to the EPFO and remaining 50% payment after submission of satisfactory work completion certificate by the firm subject to clause- 5 (b).
2. DTC reserves its right to forfeit 10% amount of the contract value in the event of non-performance/unsatisfactory performance by the firm.

• Submission of offer and opening of bids:
  • The interested firms may submit their price bids along with signed tender document of DTC and the documentary evidence with regard to experience as mentioned in the clause-3 to the Dy. Manager (Tender Cell), Delhi Transport Corporation, Room No. 207, I.P. Estate, New Delhi-110002 in sealed cover, which must reach on or before 15-June-2018 by 1200 hrs. through speed post/courier/by hand etc.
  • The offers/price bids received shall be opened on the same day at 1500 hrs. The offers received after due date & time shall not be entertained. The firms may attend the process of opening of bids on the above date, if they desire so.

• Validity of offer:
  • The bidders shall keep their offers valid upto 90 days from the date of opening of bids.

• Dispute Settlement:
  • In the event of any dispute arising under these conditions of contract/performance of the firm, the dispute shall be resolved by both the parties with mutual discussions, failing which the matter shall be put up before the Chairman -PF Trust - DTC. The decision of the Chairman PF Trust shall be final and binding on both the parties.

• Termination of Contract:
  • DTC reserves its right to terminate the contract of the firm at any time without assigning any reason.
  • I hereby agreed all your terms and conditions as enumerated above and undertake that entire documentation work of the modalities of transfer of DTC EPF Trust Funds to RPFC as per their satisfactions.

Click Here to Buy CA Final Pendrive Classes at Discounted Rate

Engagement of Chartered Accountant or Consultant for shifting the Employees Provident Fund Trust to EPFO.