Reccuring Ac
This query is : Resolved
11 February 2010
Dear Sir,
Our Firm pays Recurring deposit on behalf of our office staff per month for 5 years under some bank Scheme.The Deduction are:
total RD : 1350.00
50% will be deducted from salary & 50% the firm will bear.
Please say What expenses should be debited for 50% which the firm pays.Shou;d it be treated as salary & welfare.
Please reply.
Thanks & regards
Survesh
Our Firm pays Recurring deposit on behalf of our office staff per month for 5 years under some bank Scheme.The Deduction are:
total RD : 1350.00
50% will be deducted from salary & 50% the firm will bear.
Please say What expenses should be debited for 50% which the firm pays.Shou;d it be treated as salary & welfare.
Please reply.
Thanks & regards
Survesh
CMA Ramesh Krishnan
(Expert)
12 February 2010
It is part of employee expenses only create ledger RD-employer contribution and debit
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