5/14/2018 · Q1.Salary paid by cheque 1 lakh-a-Salary A/c Dr 100000To bank 100000-ea-Q2.Salary paid by cheque 1 lakh ,tds deducted 10000,net amt paid 90000-a-Salary A/c Dr 100000To Tds payable 10000To bank 90000-ea-Q3.Salary paid by cheque 1 lakh ,tds deducted 10000, pf deducted 8000, esi deducted 2000,net amt pai, Journal Entry For Provident Fund (PF) Provident fund or PF is a compulsory retirement savings plan managed by the government where employees contribute a fixed percentage of their monthly pay-out and the same amount is contributed by the employer. Accounting.
7/31/2014 · As of now, you do not need to register in ESIC and PF. For ESIC, you have to register under ESIC when you are paying a salary less than 21K to at least one employee. Regarding PF, you have to register under EPF scheme when your employees count reaches 20.
To ESI collected A/c 175 To PF Collected A/c 1,200 To Salary payable A/c 8,625 2. For payment of salary: Salary Payable A/c 8,625 To Bank A/c 8,625 3. For Payment of ESI & PF : ESI A/c 175 PF A/c 1,200 ESI Collected A/c 175 PF Collected A/c 1,200 To Bank A/c 2,750 Note: 1. Salary appears at Rs.10,000 in P&L A/c. 2. Employers portion of ESI & PF …
ESI Payment Entry . ESI Employee Contribution A/c Dr – 2,000 . ESI Employer Contribution A/c Dr – 4,500 . To HDFC Bank A/c – 6,500 . PF Payment Entry . PF Employee Contribution A/c Dr – 16,000 . PF Employer Contribution A/c Dr – 18,000 . To HDFC Bank A/c – 34,000 . Professional Tax Payment Entry . Professional Tax Payable A/c Dr …
JOURNAL ENTRY FOR SALARY (including allowance and deductions), Rules for ESI and PF Deduction to Calculate Employee & Employer …
Accounting and Journal Entry For Provident Fund – AccountingCapital, Rules for ESI and PF Deduction to Calculate Employee & Employer …
2/16/2017 · In the earlier post we shared some basic knowledge of EPF and ESI along with their contribution rates. Now the issue which is usually faced is the Accounting Treatment of deduction from the salary of Employee and Contribution made by the Employer. In this blog we have shared the accounting treatment of the same along with the due entry .
In the Name field, type PF Admin Expenses; Specify the group as Indirect Expenses in the field Under and press Enter; The completed PF Admin Expenses Ledger creation screen is displayed as shown: PF Admin Expenses Ledger Creation. Press Enter to accept, Why ESI and PF is debited with employee’s contribution? They should be debited with only Employer’s contribution. As the employed is passing is passing the entry in its books of account, hence only Employer’s contribution towards ESI and PF will be debited as Employer’s expense. Reply Delete, 6/26/2010 · 26 June 2010 Dear all please tell me the entry for the salary ,EPF, ESIC . dinesh
