Employees Provident Fund question in admission and retirement give some examples
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E.P.F. is liability of business
Assume E.P.F. given in balance sheet
10000
and in adjustment is given that liability for P.F. is increased by 1000
Then entry passed through revaluation account
when liability is increased then it is loss
Revaluation dr 1000
To Provident fund. 1000
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