Entry of provident fund in the books of employer

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1 Points Posted on 09 February 2020
salary a\c Dr.
to employees pf deduction
to tds
to salary payable
sir, employer ki book m entry mere hisaab se aese honi chahiye but jab m read kar rhi hu to to employees contribution aa rha h par sir employee to apni salary Se deduct karta h na to fir deduction word kyu use ho rha h
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On 09 February 2020 at 10:47 Report
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This discussion clarifies the accounting entry for provident fund (PF) in an employer's books. The correct entry involves debiting the salary account and crediting employee PF deductions and TDS. It explains that 'employees PF deduction' refers to the amount deducted from an employee's salary for their PF contribution, which the employer then deposits.

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3924 Points Posted on 09 February 2020
Ask in English , please .
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On 09 February 2020 at 11:20
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Financial Professional
196 Points Posted on 11 February 2020

Your entry is correct. There to part of EPF Employer Contribution & Employee Contribution. Employee Contribution is deducted from their salary by Employer & deposited to PF Account. So the head itself called Employees PF Deduction.

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On 11 February 2020 at 11:12

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