Dear Swastik and Aby,
Thanks for your elucidations.
I would suggest that no company mainatins two accounts for this purpose. It is always better to have one proper account, but professionally nullifying the imapct of subsidy on PF in whatever way it should be done from accounts point of view.
But, it will be quite strange if any PF officer makes much ado about food allowance, though it is explicitly intended to be just an allowance but not concession, and keeps mum over the large amount of subsidy visibly going as food concession, but hidden to the PFO because the accounts are set right to make this subsidy hidden or disappear.
Regards,
Govardhan
Thanks for your elucidations.
I would suggest that no company mainatins two accounts for this purpose. It is always better to have one proper account, but professionally nullifying the imapct of subsidy on PF in whatever way it should be done from accounts point of view.
But, it will be quite strange if any PF officer makes much ado about food allowance, though it is explicitly intended to be just an allowance but not concession, and keeps mum over the large amount of subsidy visibly going as food concession, but hidden to the PFO because the accounts are set right to make this subsidy hidden or disappear.
Regards,
Govardhan