Receipt of amount from epf organisation - accounting entries

CA HAYEDAR SHAIKH (Practice ) (627 Points)

19 July 2014  

We have client who is in receipt of money (40,00,000/-) from Employee Provident Fund Organisation in the F.Y. 2013-14. Please give me accounting entries for recording in his books of account.

He was working is private company.

Also show the tax implication of above said amount.

Thanking you