Provision for Provident Funds is shown in the Balance Sheet of a company under which head as per Schedule III of the Companies Act 2013?

Reserves and Surplus Current Liabilities Non Current Liabilities Provisions

Non Current Liabilities

As per Schedule III of the Companies Act 2013, the amount of provision settled within 12 months from balance sheet date or within operating cycle period from date of its recognition is classified as short term provisions and shown under current liabilities on the face of balance sheet. Others are depicted as long-term provisions under non-current liabilities on the face of balance sheet. Provision for Provident Fund is for long term and hence it will be falling under "Non Current Liablities".