wat is d accounting treatment for liability on account of provident fund? is d balance amount transferred to partners capital accounts ?

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Hi Monica, if there exists a liability against the employees provident fund then the liability should be paid and the remaining amount should be shown in the new Balance Sheet.Employee Provident Fund is a retirement benefit fund created by the business for the welfare of its employees.

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wat is d accounting treatment for liability on account of provident fund? is d balance amount transferred to partners capital accounts ?

Hi Monica, ​if there exists a liability against the employees provident fund then the liability should be paid and the remaining amount should be shown in the new Balance Sheet.Employee Provident Fund is a retirement benefit fund created by the business for the welfare of its employees.

Hi Monica, if there exists a liability against the employees provident fund then the liability should be paid and the remaining amount should be shown in the new Balance Sheet.Employee Provident Fund is a retirement benefit fund created by the business for the welfare of its employees.