SET-OFF OF THE EMPLOYEES BENEFIT
This query is : Resolved
24 August 2020
RESPECTED SIRS,
EMPLOYER IS PAYING SHARE OF EMPLOYEES ALSO ON ACCOUNT OF EPF, ESIC AND PROFESSIONAL TAX. IN OTHER WORDS EMPLOYEES ARE NOT GETTING DEDUCTED FROM THEIR SALARY AND THAT MUCH PORTION TOO EMPLOYER IS PAYING. CAN WE CLAIM THE SET-OFF OF THE SHARE OF EMPLOYEES PAID BY THE EMPLOYER INTO PROFIT & LOSS ACCOUNT.
EMPLOYER IS PAYING SHARE OF EMPLOYEES ALSO ON ACCOUNT OF EPF, ESIC AND PROFESSIONAL TAX. IN OTHER WORDS EMPLOYEES ARE NOT GETTING DEDUCTED FROM THEIR SALARY AND THAT MUCH PORTION TOO EMPLOYER IS PAYING. CAN WE CLAIM THE SET-OFF OF THE SHARE OF EMPLOYEES PAID BY THE EMPLOYER INTO PROFIT & LOSS ACCOUNT.
31 August 2020
Yes....definitely possible to claim the same as business expenses.
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