11 July 2014
But when employer pays his contribution every month, it does not get credited to your bank account but the same is seen in your pf account. How would you account then
11 July 2014
but employee cant book it as it havent rec it though in pass book u can see but its not employees income and only when employee is eligible fto withdraw then only he must book his income.
11 July 2014
Of course it is employees income only as the same is shown in the pay scale also. and by the way the pass book belongs to the employee so there is no question of the fact that the employers contribution to pf is employee's income only. And withdrawal norms are to be followed as per epf act. It has nothing to do with journal entry. Entries can be recorded on accrual basis also. And that is what I have asked for?
11 July 2014
Thanks for the info, But here I would like to mention that entries are recorded in the books of employer and I have a doubt wrt entry in the books of employee
16 July 2014
Who told that employer will maintain books of employee? Its obvious that employee would be wanting to prepare his books of accounts. And the above question is asked from the point of view of employee only.
16 July 2014
Who told that employer will maintain books of employee? Its obvious that employee would be wanting to prepare his books of accounts. And the above question is asked from the point of view of employee only.
16 July 2014
Who told that employer will maintain books of employee? Its obvious that employee would be wanting to prepare his books of accounts. And the above question is asked from the point of view of employee only.
CAclubindia
