EPF

This query is : Resolved 
Quick Summary
The government is covering EPF contributions for employers and employees for three months starting March 2020. As this payment goes directly to the EPF office, no direct entry is needed in your company's books. This government incentive can be recognised as indirect income, specifically as a government grant, in your accounts.

Profile Image

Profile Image

(Querist)
27 March 2020 hello

As heard today Government is going to pay EPF of employer and employees for 3 months from march 2020.

if it is so how to make entry in books.
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
27 March 2020 It will be paid directly to EPF office so no need to make any entry in the books.
Profile Image

Eswar Reddy S

Profile Image

Eswar Reddy S (Expert)
28 March 2020 It is a kind of incentive given by govt .So the liability of EPF is paid by govt can be recognized as income under govt grants
Profile Image

Aashok Kumar Sharmapro badge online

Profile Image

Aashok Kumar Sharmapro badge online (Expert)
25 May 2020 You can show it as an indirect income in the books of accounts.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member Aishwarya NAishwarya NPro Member CA Narender YarragorlaCA Narender YarragorlaPro Member Nilesh MatekarNilesh MatekarPro Member Ishwarya Keerthi BIshwarya Keerthi BPro Member sandhya.vsandhya.v
Subscribe to Pro
Join an elite circle of professionals



Answer Query



Quick Links



Browse by Category