Ascertainment of accounting head

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Sumit

Sumit (Querist)
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29 May 2013 Can we debit 'Remuneration to Directors' under the head 'Employees benefit exp.'

Please revert..

Silpa Agarwal

Silpa Agarwal (Expert)
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29 May 2013 As per the revised schedule 'Remuneration to Directors' can be shown under the head 'Employees benefit expense'.Under the sub head 'Salary,wages and bonus'.

Sumit

Sumit (Querist)
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29 May 2013 And if the salary is made to any other staff member than Same a/c shall be debited or what?

Silpa Agarwal

Silpa Agarwal (Expert)
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29 May 2013 Yes for the salary to any other staff member 'Salary,wages and bonus'account is to be debited.

Sumit

Sumit (Querist)
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29 May 2013 Thank you so much.

Tushar Desai

Tushar Desai (Expert)
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29 May 2013 I agree with the solution given by Shilpa Agarwal. But, I have one question for Sumit. Are you talking about Full-Time Director? I want to know is whether your Director is an employee or independent director.

If he is an independent director, remuneration paid to him is not covered under salary head. Payment to Independent Director is considered as payment against Professional Service.

Sumit

Sumit (Querist)
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29 May 2013 He is a full time director.

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