Accounting entry for salary, EPF, ESIC
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 June 2010
Dear all
please tell me the entry for the salary ,EPF, ESIC.
dinesh
please tell me the entry for the salary ,EPF, ESIC.
dinesh
26 June 2010
Dr: Salary
Dr: Employer PF contribution
Dr: Employer ESI Contribution
Cr: TDS on Salary
Cr: Provident fund payable
Cr: ESI payable
Cr: Salary payable/Bank
Dr: Employer PF contribution
Dr: Employer ESI Contribution
Cr: TDS on Salary
Cr: Provident fund payable
Cr: ESI payable
Cr: Salary payable/Bank
Message likes :
8 times
26 June 2010
Agreed.
08 December 2012
1. Pass the journal entry when salary is due.
Basic Salary Debit
Allowances Debit
Company Contribution to EPF Debit
Company Contribution to EPS Debit
Administration Charges to EPF Debit
Company contribution to ESIC Debit
EPF Payable Credit
EPS Payable Credit
ESIC Payable Credit
Professional Tax Payable Credit
TDS Payable Credit
Labour welfare fund Payable Credit
Loan to Employee Credit
Salary Advance to Employee Credit
Rent Recovery Credit
Canteen Expense Credit
Salary Payable Credit
2. Pass the journal entry of the payment of salary.
Salary Payable Debit
Cash/ Bank Credit
Basic Salary Debit
Allowances Debit
Company Contribution to EPF Debit
Company Contribution to EPS Debit
Administration Charges to EPF Debit
Company contribution to ESIC Debit
EPF Payable Credit
EPS Payable Credit
ESIC Payable Credit
Professional Tax Payable Credit
TDS Payable Credit
Labour welfare fund Payable Credit
Loan to Employee Credit
Salary Advance to Employee Credit
Rent Recovery Credit
Canteen Expense Credit
Salary Payable Credit
2. Pass the journal entry of the payment of salary.
Salary Payable Debit
Cash/ Bank Credit
Message likes :
8 times
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