Provision for Gratuity
This query is : Resolved
20 September 2010
Dear Sir,
I have a question. Sir in a pvt ltd co. there are 105 employees. For gratuity
1.How to calculate the amt of provision?
2.Amount calculated by valuer as 836282/- for the year ended 31.03.2010
3.Co. made the payment of rs.500000/- in this year.
4. On 31.03.2010 what should be the entry required to be passed?
Pls suggest us as soon as possible.
thanks in advance.
I have a question. Sir in a pvt ltd co. there are 105 employees. For gratuity
1.How to calculate the amt of provision?
2.Amount calculated by valuer as 836282/- for the year ended 31.03.2010
3.Co. made the payment of rs.500000/- in this year.
4. On 31.03.2010 what should be the entry required to be passed?
Pls suggest us as soon as possible.
thanks in advance.
20 September 2010
on 31.3.10
PL A/c Dr 836282/-
To Provision For Gratuity Cr. 836282/-
No. on payment
Provision for Gratuity Dr. 500000/-
To Bank Cr. 500000/-
PL A/c Dr 836282/-
To Provision For Gratuity Cr. 836282/-
No. on payment
Provision for Gratuity Dr. 500000/-
To Bank Cr. 500000/-
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