In a large mixing bowl, combine flour, sugar, salt, and yeast. Pour in evaporated milk, add beaten eggs, and mix in melted butter. Stir until a shaggy dough forms, then knead until smooth and elastic.

Transfer the kneaded dough to a greased bowl and cover with a kitchen towel. Allow the dough to rise for 1 to 2 hours until doubled in size.

Lightly flour your surface, turn out the dough, and roll it to about 1/4-inch thickness. Cut the dough into squares or rectangles.

Place the cut dough on a floured baking sheet, cover with a towel, and let them rise for another 30 minutes.

Heat oil to 350°F in a heavy pot. Fry beignet squares in batches for about 2-3 minutes on each side until golden brown.

Remove beignets with a slotted spoon and drain on paper towels. Dust with powdered sugar before serving.