  In this paper, the effect of electromagnetic field has been investigated on
the spherically symmetric collapse with the perfect fluid in the presence of
positive cosmological constant. Junction conditions between the static exterior
and non-static interior spherically symmetric spacetimes are discussed. We
study the apparent horizons and their physical significance. It is found that
electromagnetic field reduces the bound of cosmological constant by reducing
the pressure and hence collapsing process is faster as compared to the perfect
fluid case. This work gives the generalization of the perfect fluid case to the
charged perfect fluid. Results for the perfect fluid case are recovered.
