PF Balance in Balance Sheet
This query is : Resolved
22 May 2023
Dear Experts,
If an Individual has two source of Income ( Salaried & Business)
While preparing the Balance sheet for the Individual , shall we include the EPF balance under Long Term Investment. ( Both Employer Share and Employee Share) - Balance as per PF Website
I believe ESI Contribution cannot be consider under Investment - Kindly correct me if Im Wrong.
Kindly Advise
If an Individual has two source of Income ( Salaried & Business)
While preparing the Balance sheet for the Individual , shall we include the EPF balance under Long Term Investment. ( Both Employer Share and Employee Share) - Balance as per PF Website
I believe ESI Contribution cannot be consider under Investment - Kindly correct me if Im Wrong.
Kindly Advise
23 May 2023
Yes, It can be shown as long term investment.
Yes, you are right ESI contribution can't be considered as investment.
Yes, you are right ESI contribution can't be considered as investment.
23 May 2023
Thank you so much sir.
Also do we need to Show - LIC Premium as investment
I believe it can be coded in Personal Drawings, since it is also for Longterm Investment purpose, do we need to show LIC Premium paid ( Accumulated value ) as investment
Kindly advise
Also do we need to Show - LIC Premium as investment
I believe it can be coded in Personal Drawings, since it is also for Longterm Investment purpose, do we need to show LIC Premium paid ( Accumulated value ) as investment
Kindly advise
23 May 2023
Yes show LIC premium paid as investment.
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