banner_ad

Group medical insurance-accounting entries

Accounting Entries 2189 views 2 replies

My company has paid RS xxx as premium towards employees medical insurance for 1 full year. Each month we have to deduct specific amount from all employees from salary.

Suggest me accounting entries.

In case new employee joins, somebody resigns how to account it.

 

Replies (2)
If Salary Rs. 10k and You ll deduct Rs. 500 for Insurance amount

Journal :
Dr. Salary Paid A/c - Rs. 10000
Cr. Salary Payable Mr. A - Rs. 10000

Payment :
Salary Payable Mr A - Rs. 9500
To Bank / Cash A/c - Rs. 9500

Journal :
Dr. Salary Payable Mr. A - Rs. 500
Cr. Insurance A/c - Rs 500
Good explanation sir.


.



.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details