Journal entries
This query is : Resolved
SHAH MANISH HASMUKHLAL
(Querist)
17 October 2016
salary entries with pf/esi/ptax deduction
Amol S Joglekar
(Expert)
17 October 2016
01.
debit salary
credit salary payable
(Pass this entry when salary falls due.....say last day of the month)
02.
debit salary payable
credit bank
credit PF deducted
credit ESIC deducted
credit P tax deducted
(Pass this entry at the time of payment of salary with deduction, if any, as above)
03
debit PF deducted
debit ESIC deducted
debit P tax deducted
credit Bank
(Pass this entry at the time of payment of pf etc. to Govt)
debit salary
credit salary payable
(Pass this entry when salary falls due.....say last day of the month)
02.
debit salary payable
credit bank
credit PF deducted
credit ESIC deducted
credit P tax deducted
(Pass this entry at the time of payment of salary with deduction, if any, as above)
03
debit PF deducted
debit ESIC deducted
debit P tax deducted
credit Bank
(Pass this entry at the time of payment of pf etc. to Govt)
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