Hi All,

I am having some college students working for my company doing marketing activities and I am paying them fixed monthly amount as retainers salary to them. But now my auditor is of the opinion that the Account Head "Retainer Salary" attracts PF & PF. so please suggest me under what head i should put the same so as to avaiod any TDS, PT or PF.
Thanks in Advance.

Gurmeet R

TODP found by the person
26276.74
5483.11
3.78
TOTAL 31763.63

How this Figure of 31763.63 is arrived?
This data is arrived by my superior from the following GLB Ledeger Balances. but How?

GL Sub Head
Current Deposit Others 747918481.65
INDP Current Deposit Others 378039.28
Matured Deposit ( Other) 98882938.28
Outstanding interest on FD 264105.82
Deposit Suspense 1071782.71
savings deposit 520594078.90
Inoperative SB 9343128.26
Fixed Deposit 1362650037.34
Recurring Deposit 7452675.00
Other Term Deposit 841056369.31
Bills Payable 176087271.13
Interest Payable 37572583.67
Other Liabilities Items 122316.42
Other Liabilities Items ( Loan Collectione A/C) 430382.00
Outstanding salary bills 0.00
Marginal deposit 774312.32
Outstanding I.T.Payable( I.T. on Salary) 34300.00
TDS on Bank Deposit 927378.24
Interest Suspense 1279.00
Others 36663.00
Provicions Others 7104.00
Inter Office Accounts (-)8543506301.60
Accumated Depreciation 3893186.14
UBI Bill/Chq for Coll (FGN) Rec OT 1218245.00
UBI Bill CHQ Coll (FGN) Rec OT 0.00
Liab on Guarantee Co-acccp (INL) ( Liab n account of Guaran & C) 6733591.00
Liab on account of LC(inl) 1963129273.00
Other payables ( PPF Payable Account) 6465379.00
Written off Loan Payable 42363119.20

bad Debt written Off realised 9000.00
Locker safe custody charges 7154.00

Can anybody send me the detailed checklist for the audit of provident fund and superannuation funds.

Thanks

WE HAVE A LEASE LAND AND THE SAME LAND IS VALUED AT BY THE CONSULTANT. VALUATION AMOUNT IS CREDITED AS CAPITAL RESERVE IN THE BALANCE SHEET. WALL IS CONSTRUCTED ON THE LAND.

VALUATION IS BASED ON THE RENTAL INCOME OF THE LAND.

AMOUNT CREDITED TO CAPITAL RESERVE IS CORRECT OR NOT?

LEASE IS FOR 30 YEARS

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Can any one tell me whether share application money paid by a company need to be shown in investment or Advance

plz reply as soon as possible
Thank you

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