Comprehensive study on accounting procedures of recordkeeping for USA retirement savings plan (401k) of USA in Data-Path Ltd.

Abstract

Data-Path Ltd. Is the first registered outsourcing company in Bangladesh. July Business Services, a TPA company of USA is the mother company of Data-Path Ltd. July is one of the leading TPA companies in the USA. As the average gross salary in the USA is so high, the company came up with a plan to outsource their business process. They were the first TPA company in the world to outsource their business process. And they were very successful. The accounting procedures of retirement provident Fund of USA is very complicated and very different from the accountant procedures that we learn in Bangladesh. They follow many different rules and regulations very strictly. These rules and regulations are actually the ones that make the RPF accounting complex. Bangladesh can learn a lot from the RPF industry of the USA. Especially how strictly they impose rules and regulations in this industry. And how much the USA government is concerned for their elderly people