Entry for esic
This query is : Resolved
28 May 2012
Total Salary For a month = 27240
Employee deduction for ESI=481
Net Payment for salary = 27240-481=26759
Employer Contribution for ESI=1294, then what will be the entry
Salary A/c Dr 27240
Salary Payable 26759
ESI Paysble 481
but what will be the employer contribution's entry ie. Rs 1294
Pls answer for this problem.
Thanks and regards
Employee deduction for ESI=481
Net Payment for salary = 27240-481=26759
Employer Contribution for ESI=1294, then what will be the entry
Salary A/c Dr 27240
Salary Payable 26759
ESI Paysble 481
but what will be the employer contribution's entry ie. Rs 1294
Pls answer for this problem.
Thanks and regards
29 May 2012
Contribution to ESIC (Expense)
To ESIC Payable
To ESIC Payable
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