Question
The provident fund created under the provident fund
scheme given in the Social Security Code 2020, is contributed by the employer at what percentage of the wages?Solution
Explanation: In this scheme, the employer is required to contribute 10% of the wages of each employee (whether directly employed or employed through a contractor) to the fund. The employee's contribution will be equal to the contribution made by the employer on their behalf. However, if an employee wishes to contribute more than 10% of their wages, they are allowed to do so. It's important to note that the employer is not obligated to contribute more than their required contribution.
Which of the following will not affect cash flows under indirect method when reconciling profit to net cash from operating activities?
ABC Ltd. follows Ind AS and presents its balance sheet as per Schedule III of the Companies Act. The company receives ₹5 crore from the issue of deben...
Which of the following best explains the purpose of notes to accounts in financial statements?
As per Schedule III of the Companies Act, 2013, "Securities Premium Reserve" is shown under:
XYZ Ltd. classifies bank overdraft under 'Cash and Cash Equivalents' in the balance sheet. The overdraft is repayable on demand and regularly fluctuates...
As per Ind AS 1, comprehensive income includes:
The Division III, inserted in Schedule III of the Companies Act, 2013, prescribes the format for preparation of financial statements of which of the fo...
Which of the following is required to be disclosed in the financial statements about significant accounting judgments and estimates?
Which of the following is a non-current liability?
Select the most appropriate ANTONYM of the given word.
Perilous
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