Accounts
This query is : Resolved
13 December 2017
ICAI, in one of its solutions, categorizes "Provident Fund" as a "Current Liability". I don't understand how "Provident Fund" is a "Current Liability". In my opinion, it should be a "Non-Current Liability". Please explain.
13 December 2017
Provident fund payable need to be paid with in 15th of next month. In case Nov-17 PF deduction need to be paid with in 15th of Dec-17. hence it is current liability only, cannot be non current liability
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