Payroll entry
This query is : Resolved
10 July 2015
What is the payroll entry for given detail?
Gross Salary - Rs. 10,000
Employer's PF Contribution - Rs. 2,000
Employee's PF Contribution - Rs. 1,000
TDS - Rs. 2,000
Gross Salary - Rs. 10,000
Employer's PF Contribution - Rs. 2,000
Employee's PF Contribution - Rs. 1,000
TDS - Rs. 2,000
10 July 2015
Salary ac Dr 10,000
To TDS ac Cr 2,000
To Employee's pf contribution 1,000
To Employee Cr 7,000.
(Salary liability creation)
Employee Dr 7,000
To Bank ac Cr 7,000
(salary payment)
Employer's PF contribution 2,000
Employee's PF contribution 1,000
Bank ac Cr 3,000
(PF remittance)
To TDS ac Cr 2,000
To Employee's pf contribution 1,000
To Employee Cr 7,000.
(Salary liability creation)
Employee Dr 7,000
To Bank ac Cr 7,000
(salary payment)
Employer's PF contribution 2,000
Employee's PF contribution 1,000
Bank ac Cr 3,000
(PF remittance)
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