Cost of material consumed and
Changes in Inventory

Dear Experts,

For our Gratuity the plan assets is LIC. So we make contributions every year and the amount is reduced from our Gratuity provision in Books. Now, One employee transferred from Group company to our company. So the gratuity of his is transferred to our LIC Account. Now, the LIC Fund statement shows the premium received is Rs 39 lacs paid by us from our bank account. And the gratuity of the employee Rs 2 lacs is also shown as premium received in LIC fund statement. The issue is for the 39 lacs paid, we can pass entry as

Gratuity provision A/c Dr Rs 39 lacs
To Bank Rs 39 lacs

But for the employee's gratuity amount Rs 2 lacs what entry should I pass in books. The Actuarial Valuation report shows that the total employer contribution is Rs 41 Lacs (Rs 39+Rs 2 lacs).

I will debit Gratuity provision with Rs 2 lacs but what ledger should corresponding credit carry. Our company follows Accounting Standards.

Dear Sir/Ma'am
I need format of Balance sheet and profit loss Account of business of Printing Press(Proprietorship).
Business is very small turnover(Below 20 Lakh).

Anyone can share this format.

How to present in balance sheet as per scheduled III and under which head
Excess received from Trade Receivable or excess paid to Trade payable.

Advance paid and received against Property plant and equipment ,
how to present it according to scheduled III of company Act.

How to present in balance sheet as per scheduled III of company act
Excess paid to Trade payable and excess received from Trade receivable,

Is it EBITD or EBIT to apply the formulae.

is Gratuity provision made yearly basis and Gratuity allowable on Paid basis under section 43B before filing of ITR of income Tax.

Salary A/c Dr. ( Cost of the Company)
To Employees Contribution to EPF Payable
To Employer Contribution to EPF Payable
To Employee Contribution to ESI Payable
To Employer Contribution to ESI Payable
To Gratuity Payable
To Professional Tax Payable
To TDS Payable
To Advance Adjustment against Salary
To Salary Payable
is mandatory to separately show Employees and Employers contribution of EPF and ESI Payable in books of Accounts.

is Gratuity calculated on Monthly Basis and Deposited it Monthly Basis
what is method of calculation of Gratuity and Bonus.