Question

do we distribute employee provident fund to partners at the time of :

1. admission/ retirement

2. dissolution( is it treated the same way as reserve fund ?)

Answer 1

No matter whether it is admission or retirement, an employee provident fund will not be distributed to partners at any concern because it is a retirement benefit given by an organization to its employee.

At the time of dissolution, the amount will be transferred to the realization account since all accounts are treated.

Answer 2

Answer:

No matter whether it is admission or retirement, an employee provident fund will not be distributed to partners at any concern because it is a retirement benefit given by an organization to its employee.

At the time of dissolution, the amount will be transferred to the realization account since all accounts are treated.

Explanation: