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Accounting entry for salary, EPF, ESIC

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 June 2010 Dear all

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





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



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