P.F & E.S.I.C
This query is : Resolved
jitendra singh
(Querist)
12 July 2010
Dear Sir,
Thanks for your Reply. But Actuly my problem is not comlete here, because P.F & Esic both are Employees contribution is paid to the goverment & employers contribution is Shown in Profit & Loss Account.
Here is problem create if i create ledger pf & Esic under Current liablities it appear in balance Sheet not P/L Account.
Thanks for your Reply. But Actuly my problem is not comlete here, because P.F & Esic both are Employees contribution is paid to the goverment & employers contribution is Shown in Profit & Loss Account.
Here is problem create if i create ledger pf & Esic under Current liablities it appear in balance Sheet not P/L Account.
12 July 2010
A hypothetical example is given below.
Gross Salary Dr 1200
Employers' contribution to PF & ESIC Dr 200
To Salary Payable 1000
To PF & ESIC Payable 400
Here, first two account heads are expense accounts affecting P&L and next two are account heads under current liabilities.
A hypothetical example is given below.
Gross Salary Dr 1200
Employers' contribution to PF & ESIC Dr 200
To Salary Payable 1000
To PF & ESIC Payable 400
Here, first two account heads are expense accounts affecting P&L and next two are account heads under current liabilities.
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