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What journal entry for provident fund?
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.
When was Central Provident Fund created?
Central Provident Fund was created in 1955.
What is the interest rate on unrecognized provident fund?
There is no such thing as an Unrecognized provident fund. The rate of interest on provident fund in India is 8.6% per year
Which one is better between voluntary provident fund and public provident fund?
VPF
What entries are posted on a capital project Fund?
premium remained in capital projects fund, is there an journal entry for this
How many FDI in provident fund?
None. The Indian government does not allow FID in provident fund
What does DL in PF number stand for?
In a PF (Provident Fund) number, "DL" typically stands for "Delhi." The PF number is a unique identifier assigned to employees contributing to the Employees' Provident Fund Organization (EPFO) in India, and the "DL" prefix indicates that the account is registered in the Delhi region. This helps in the efficient management and tracking of provident fund accounts by location.
Is there necessary to sign of previous employer to get provident fund?
Yes. The Employers signature/attestation is required to get the provident fund
What is the expansion of pF?
Provident Fund
When provident fund is implemented?
1952
Can you deduct provident fund on conveyance?
No
Is Government Provident Fund money falls into Riba category?
Yes, the interest paid by provident fund will fall into riba category
