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Full Version: Accounting Treatment of Provident Fund
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Dear All,

Will any body teach me about how accounting for Provident Fund can be treated.
Yes off course. Contact me at aminnjmi@gmail.com.
how Accounting for provident fund can be treated is very important , for this contact any accountant personally , so you will get more correct information by this.
suppose basic salary(mean to say payable in hand) :10000
employee PF contribution:500
Employer's contribution: 500
Entry will be Salary A/c Dr. (10,000+500)-----P&L
Employer's contribution A/c 500------P&L
To Pf payable 1,000---------B/S
To salary payable 10,000---------B/S and due date of PF payment is 20th ( including days of grace) of the nxt mnth.... And for ESIC its 21st( including days of grace) of nxt mnth The entry for ESIC is same as of PF Plz correct me if m wrng.
The question is not very much clear. If you could explain the problem in more detail, the accounting treatment would be easy to explain.
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