Salary entry
This query is : Resolved
07 December 2013
Sir,
I am confused with salary payment entry
eg. if gross salary rs.7500/- PT 175/- EPF 900/-
one of my friend told me that you should show the PT amount received in cash from employee and Dr salary a/c by Rs.6425/- and show payment of PT and PF separately.
if this is correct??
Please help
Thanks
I am confused with salary payment entry
eg. if gross salary rs.7500/- PT 175/- EPF 900/-
one of my friend told me that you should show the PT amount received in cash from employee and Dr salary a/c by Rs.6425/- and show payment of PT and PF separately.
if this is correct??
Please help
Thanks
07 December 2013
When its due:
Basic Salary A/c..dr 7,500
PTI A/c ..dr 175
Epf A/c...dr 900
ToSalary Payable A/c 8,575
When u pay:
Salary Payable A/c..8,575
To Cash/Bank A/c 8,575
Basic Salary A/c..dr 7,500
PTI A/c ..dr 175
Epf A/c...dr 900
ToSalary Payable A/c 8,575
When u pay:
Salary Payable A/c..8,575
To Cash/Bank A/c 8,575
07 December 2013
Agree with Expert.
Also you need not required to receive PT contribution from employee..
You can deduct from salary & remit to govt.
Thanks//VaibhavJ
Also you need not required to receive PT contribution from employee..
You can deduct from salary & remit to govt.
Thanks//VaibhavJ
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