How is the provident fund treated in the course of dissolution of a partnership firm?
Provident fund in dissolution of a partnership firm
Wakif Amin (Student) (85 Points)
04 October 2011
6 Replies
Nandan Sarma
(Article Assistant)
(325 Points)
Replied 04 October 2011
Provident Fund is a liabilty of the firm and just like other liability it has to be paid off even if not mentioned in the question..
Aseem Narang
(C.a Student)
(34 Points)
Replied 06 February 2012
iska mtlb pf relisation mein jaayega direct... Bt ek book mein pf ko sirf partners ke capital acount meim debit kiya huya e.. uska kyaa???
Wakif Amin
(Student)
(85 Points)
Replied 09 February 2012
PF is an outside liability...Its has to be paid-off...either through the firm( debitin Realisatn ac) or through the partners ( debitin Capital ac).....
Ritik Chopra
(student)
(8128 Points)
Replied 11 March 2021
Since Provident Fund is a outside liability, it is to be paid either through bank or partner's capital after transfering it to realisation a/c.
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