Gratuity - employee left company before completion of 5 yrs
This query is : Resolved
20 September 2016
Dear Professionals,
Company made provision for Gratuity for employees. But few employees are left the company before completion of 5 Years service.
How the company close that Provision amount earlier made.
can we credit it to profit and loss statement ?
Company made provision for Gratuity for employees. But few employees are left the company before completion of 5 Years service.
How the company close that Provision amount earlier made.
can we credit it to profit and loss statement ?
Amol S Joglekar
(Expert)
20 September 2016
reverse the provision in the year in which the employees left the job.
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