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Providend fund

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 July 2010 Co has deduct the PF & ESI from employees salary it is under the Expenses or Liability side
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Shudhanshu Agrawal

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Shudhanshu Agrawal (Expert)
13 July 2010 It shall be treated as liability and not expenses. But these amount has been included in expenses when the company has debit the salary expense A/c.
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
13 July 2010 Employee PF & ESI contribution is shown under other liablities under Liablity side.
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
13 July 2010 Salary is booked in always on gross amount, not individual.

Salary A/c Dr.
To Employee Contribution to PF& ESI
TO TDS
TO Cash/Bank.
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