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Why employees provident fund not distibuted??????

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Why employees provident fund not distibuted??????

Posted by Syed Murtuza 7 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Priyanka Kapoor 7 years, 7 months ago

Employees Provident Fund is a retirement benefit fund created by the business for the welfare of its employees. Therefore, at the time of Reconstitution of Partnership Firm i.e. Admission/Retirement/Death of a Partner, it should not be distributed among the partners, in fact, it is shown on the Reconstituted Firm's Balance Sheet. Basically its employees money not the partners kept for employees.... hope u've understood....

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