Providant Fund Gl accounts -Suggest me the Gl account type

[Former Member]

Hi,

In my project we need to do some integration for FI-HR.

Here i need to maintain 2 accounts

1 is for Providant fund which is giving by company

2 is for Providant fund which is deducting by company

Kindly advice me what type of account do i need to create for the above gl accounts. Either Profit and loss or Balance sheet accounts.

Thanks

Sunitha

[Former Member · Accepted solution]

Here i need to maintain 2 accounts

1 is for Providant fund which is giving by company - Co' contribution- P&L account

2 is for Providant fund which is deducting by company - Employee contn- Balance sheet account

[Former Member]

Hello,

Your company is deducting PF from an employees that would be PF Collected A/c and it should be Balancesheet A/c. You have to maintain as OIM.

Thanks

Para