Salary a/c Dr.
To employee a/c
To ppf a/c
ppf a/c (employer)Dr
ppf a/c (employee)Dr
To bank a/c
To record employee contributions to the provident fund: Debit Provident Fund Expense and Credit Employee Contribution Payable. To record employer contributions: Debit Provident Fund Expense and Credit Employer Contribution Payable.
Central Provident Fund was created in 1955.
There is no such thing as an Unrecognized provident fund. The rate of interest on provident fund in India is 8.6% per year
VPF
premium remained in capital projects fund, is there an journal entry for this
None. The Indian government does not allow FID in provident fund
Yes. The Employers signature/attestation is required to get the provident fund
Provident Fund
No
1952
Yes, the interest paid by provident fund will fall into riba category
how many staff should e in a company to start provident fund