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Salary entries

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 October 2013 respected sir,
I wanted to ask whether journal entries are passed for each month's salary payable at the month end? or salary provision is created at the year end?please tell the entries.
What are the entries passed for the 4 month salary o/s?
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
03 October 2013 At the time of Credit of Salary:

Basic Salary A/c Dr.
Allowance A/c Dr.

To PF A/c
To ESIC A/c
To Professional Tax A/c
To TDS A/c
To Salary Payable A/c


At the time of Payment:

Salary Payable A/c Dr
To Cash/ Bank
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@VaibhavJ

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@VaibhavJ (Expert)
03 October 2013 Agreed with AryanJi..

At the time of payment of Staues>


PF A/c
ESIC A/c
Professional A/c
TDS A/c
....To Bank A/c


Thanks!!
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
03 October 2013 Thank you Vaibhav ji..
For the remaining entries...
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@VaibhavJ

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@VaibhavJ (Expert)
03 October 2013 You are always Welcome Bro.
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