Rithwik Projects Senior Manager Finance Interview Questions, Process, and Tips

TDS monthly due date is typically the 7th of the following month.

• TDS stands for Tax Deducted at Source.

• The due date for TDS payment is usually the 7th of the following month in most cases.

• Late payment of TDS can attract penalties and interest charges.

PO vs Invoice verification involves matching purchase orders with invoices to ensure accuracy and prevent fraud.

• PO verification involves confirming that the goods or services ordered match the details on the purchase order.

• Invoice verification involves checking that the invoice received matches the goods or services received and the prices agreed upon.

• Discrepancies between POs and invoices should be resolved before pay...read more

Employer's share of Provident Fund contribution

• Employer typically contributes 12% of employee's basic salary towards PF

• This contribution is mandatory for all employees covered under the Employees' Provident Fund and Miscellaneous Provisions Act, 1952

• Employer's share of PF is a part of the overall cost-to-company for the employer

Mess expenses are debited to the Mess Expenses account in the general ledger.

• Debit the Mess Expenses account in the general ledger

• Record the amount spent on mess expenses

• Ensure proper documentation and approval for all mess expenses

• Review and reconcile mess expenses regularly to ensure accuracy