ACCOUNTING FOR MONEY RECEIVED FROM LEAVING EMPLOYEE AGAINST
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 March 2011
In our company new engineers have to sign a Bond, if they leave in the 1st year itself they have to pay company Rs. 40,000/-. One of employees left and issued a cheque of Rs. 40,000/-
What entry should we pass entry to effect above receipt
What entry should we pass entry to effect above receipt
CMA Ramesh Krishnan
(Expert)
23 March 2011
My view, it can be set off against Employee cost
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