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Home>> Software>> Provident Fund

Provident Fund Accounting:

P.F. Accounting Software Package is one of our unique product targeted towards Indian / Multinational Business Houses, FIIs, Multinational Banks having their own Provident Fund Trust.

This specially designed Accounting Package takes care of complete Book-keeping
requirements of Provident Fund Trust Accounts by maintaining Bank, Cash & J/V Books, Investments & Employee Ledgers.

Besides providing standard outputs like Trial Balance, Profit & Loss, Balance Sheet,
the package also provides specialized outputs like Control Totals of each category,
Interest on Investments, Interest to Employees & , Confirmation Letter [Certificate].

Special features include, P.F. Membership & Nomination Details, P.F. Loan Details
of Employees, Automatic Interest J/V, Automatic Transfer of P.F. Contribution and
Loan Deduction [Directly from Payroll or from ASCII File], Provision for entries like Transfer-In,
Transfer-Out & Settlement.
Next
P.F Accounting - Provisions for Entries
Automatic Transfer of P.F. Contributions
& Loan Deductions

- Directly from our Payroll Package
- From ASCII File [If transfer is required from  
   any other Database]
- Directly from our Payroll Package
- Also, provisions for Direct entry

Opening Balances entries when starting the Package

- Employee Balances can either be   
   transferred through ASCII File or can be 
   entered manually 
- Bank, Investments & other Opening   
   Balances to be entered manually
- For the consecutive years the transfer of Opening Balances is automatic.

 
Bank Book Receipts related to P.F. Contributions & Loans
- Contributions from Salary
- Transfer In
- Direct Re-Payment of Loan

Bank Book Payments related to P.F. Contributions & Loans
- Settlement / Transfer Out
- Non - Refundable Loan
- Refundable Loan

Other Bank Book entries
- Investment made by Trust
- Receipt of Interest / Dividends
- Return of Investments on Maturity
- Payment made for expenses/dues

Interest Calculation
- Interest to Employees [Report & passing of 
   Automatic Interest J/V]
- On Investments [ based on Interest  
   received & Provisions]
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P.F. Accounting - Daybooks & Reports
Employee Details
- Code, Name & Address
- P.F. related Details
    P.F. No: Current Employer
                Previous Employer
    Date of Joining: Current Employer
                          Previous Employer
                          Original P.F.
    Date of Leaving
    Date of Birth
- Nomination Details
    Name of the Nominee
    Relation & % Share
- Name of Prev. Employer
- Details of Loan

Control Totals
- Control A/c's with payment received and 
  made
- Control A/cs with Employee a/c
Daybooks
- Bank Book
- Cash Book
- J/V

Ledgers 
- Employee Ledger
- Investment Ledger

Reports
- Trial Balance
- Profit & Loss
- Balance Sheet
- General Leger Reports

Special Reports...
- Interest to Employees
- Confirmation Letter to Employees
- Interest on Investment
- Control Totals
- Employee Ledger
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P.F Accounting - Sample Certificate

Certificate

ALOK DATTA                                                                                                 Date : 30/08/00
P F No. : 86640
 We hereby certify that the balance to the credit of your account with the above Fund, inclusive of interest
as on 31-3-2000, was as under :
                                                                      Company's    Member's       Voluntary
                                                                      Contribution  Contribution    Contribution
Opening Balance as on 1-4-1999                        159425.32     342748.83
Contribution 1-4-1999 to 31-3-2000                     14664.00       14664.00       14664.00
Transfer in during the Year                                  12222.00      12222.00
Less Non refundable Loan                                                     250000.00
*Interest @ 12.00% p.a. on above                       20671.00      27670.00           807.00
                                      Total :                       206982.32    147304.83       15471.00
Grand Total Rs : 369758.15
Rupees Three Lakhs Sixty Nine Thousand Seven Hundred Fifty Eight and Paise Fifteen only
Balance on Loan Account as on 31-3-2000. Rs.-----------
* Interest credited on I.B.B. Method

Yours faithfully,
Trustees.
-- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Please return this slip duly signed as same is required for audit purposes.
                                      ALOK DATTA                                                                        P F No. : 86640
I hereby confirm that the balance as per statement attached of Rs. 369758.15 (Rupees Three Lakhs Sixty Nine Thousand Seven Hundred Fifty Eight and Paise Fifteen only) with the P.F. Trust as on 31-3-2000, is correct.
Balance on Loan Account on 31-3-2000, Rs.----------
Signature
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Sample Interest to Employees
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P.F. Accounting - Sample Balance Sheet
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