10-15-2009, 03:21 PM
Dear,
Its not non-compliance. The company is required to contribute to gratuity fund during the year or at year-end, when actuarial valuatio is done and there is shortfall in the plan assets.
You simply debit the gratuity fund acount in company books against the payment made directly by the company to employee..
In Company books;
Grautity fund - current account Dr
Bank Cr
In Fund books;
Accumlated fund Dr
Company - current account Cr
Regards,
*
Its not non-compliance. The company is required to contribute to gratuity fund during the year or at year-end, when actuarial valuatio is done and there is shortfall in the plan assets.
You simply debit the gratuity fund acount in company books against the payment made directly by the company to employee..
In Company books;
Grautity fund - current account Dr
Bank Cr
In Fund books;
Accumlated fund Dr
Company - current account Cr
Regards,
*
