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EMPLOYEE BENEFIT PLAN

9 Months Ended

Dec. 31, 2018

Retirement Benefits [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

9. EMPLOYEE BENEFIT PLAN

The Company has made employee benefit contributions in accordance with relevant PRC regulations, including retirement insurance, unemployment insurance, medical insurance, housing fund, work injury insurance and maternity insurance. The Company has recorded the contribution in salary and employee charges when incurred. The contributions made by the Company were $26,501 and $11,296 for the three months ended December 31, 2018 and 2017, respectively. The contributions made by the Company were $66,459 and $26,236 for the nine months ended December 31, 2018 and 2017, respectively.

As of December 31, 2018, and March 31, 2018, the Company did not make adequate employee benefit contributions in the amount of $294,889 and $150,205. The Company accrued the amount in accrued payroll and welfare.

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- References

No definition available.

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- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

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