Maintain a running provident fund ledger per employee, with employee and employer contributions accumulated month by month, so the balance is always current and settlement is not a reconstruction exercise.
Fund accounting
Every view stays structured and reviewable — nothing hides behind a tab.
Deducted through payroll and posted against the employee's own ledger.
The company contribution is tracked alongside, so the true fund position is visible.
The ledger shows how the balance was reached, not just where it landed — an admin-side view HR can share as a statement.
At exit the ledger closes with a debit of the full balance; whether it was withdrawal, transfer or forfeiture is recorded on the separation record and reason.
No year-end reconstruction — the ledger is maintained as payroll runs.
Opening balances (one per employee), interest and credit or debit adjustments can be posted by hand, with a guard against over-debiting.
Employee and employer contributions are recorded separately and totalled.
Payroll-posted rows are duplicate-safe and cannot be deleted — corrections go through reverting the source run or batch.
Historical fund records can be imported from CSV when moving from another system.
Final settlement reads the ledger directly, and only a withdrawal pays cash.
Maintain a running provident fund ledger per employee, with employee and employer contributions accumulated month by month, so the balance is always current and settlement is not a reconstruction exercise.
Each payroll run posts the employee and employer share to the ledger, so entries follow the salary they came from.
Every person has a statement showing accumulation over time rather than a single opaque figure.
Because the ledger is maintained continuously, leaving is a lookup instead of a reconstruction from old payslips.
Maintain a running provident fund ledger per employee, with employee and employer contributions accumulated month by month, so the balance is always current and settlement is not a reconstruction exercise.
Yes. Each side is posted separately and combined into the running balance.
The ledger closes with a debit of the full balance; the withdrawal, transfer or forfeiture intent is recorded on the separation record, and only a withdrawal adds cash to settlement.
The ledger is an admin-side record; HR can produce and share a per-employee statement on request.
Map your current workflow to the right HRM setup, permissions and rollout plan.