PF Balance in Balance Sheet

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Accoun tant (Querist)
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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

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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23 May 2023 Yes, It can be shown as long term investment.
Yes, you are right ESI contribution can't be considered as investment.

Accoun tant

Accoun tant (Querist)
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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

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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23 May 2023 Yes show LIC premium paid as investment.

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