Provident fund
This query is : Resolved
04 July 2012
Dear All
What will the accounting entry for payment of provident fund in Tally ERP 9 ?
Will the whole amount of provident fund i.e. employer's contribution and employee's contribution be debited to profit and loss a/c ?
Thanks & Regards
Vishal Agarwal
What will the accounting entry for payment of provident fund in Tally ERP 9 ?
Will the whole amount of provident fund i.e. employer's contribution and employee's contribution be debited to profit and loss a/c ?
Thanks & Regards
Vishal Agarwal
04 July 2012
first for salary
admn/wages account Dr
To P F Employee P,ble A/c
(here Employee contribution should treated as liability )
2. on the time of payment
EPF employee P'ble Dr
EPF- Employer Cont Dr
To Bank A/c
(Here Employer Contbtn Should be under Personal Cost(Expense)
So only Employer contribution reflected to Profit and Loss Account
Employee contribution not reflected to Pl Account its shown in Balance sheet only
admn/wages account Dr
To P F Employee P,ble A/c
(here Employee contribution should treated as liability )
2. on the time of payment
EPF employee P'ble Dr
EPF- Employer Cont Dr
To Bank A/c
(Here Employer Contbtn Should be under Personal Cost(Expense)
So only Employer contribution reflected to Profit and Loss Account
Employee contribution not reflected to Pl Account its shown in Balance sheet only
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- STCG FOR GOLD ETFs
- Loan by Partnership Firm
- E way bill for tractors
- Plot of land. Cost of Acquisition
- Last year TDS Claim
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
