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Interest entry in epc a/c

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 December 2013 In my company 2 entries are made for payment of interest in EPC A/c as follows,
In EPC A/c
1)Bank interest EPC limits 1,99,525
To. Bank EPC A/c 1,99,525
In CC A/c
2) Bank EPC A/c 1,99,525
To.Bank CC A/c 1,99,525
Why this practice is followed, is it correct?
If yes, then why?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
29 December 2013 It shows the fund for debiting interest from CC account. must be bank funding arrangement conditions

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