Accounts Officer
25 Points
Joined February 2009
Please let me know how to pass salary entry for the below transaction in the books of company and also how to pass an entry for PF employee and employer contribution along with due entry and payment entry.
Suppose my Cost to Company (CTC) is Rs. 40,000/- (breakup - Basic + DA - Rs. 15,000/- ; HRA - Rs. 7,500/- ; Conveyance - Rs. 1,600/- ; Other Allowance - Rs. 15,900/- Deductions - PT - Rs. 200/- ; TDS - 450/- ; PF Employee contribution @ 12% on Basic + DA - Rs. 1,800/- ; PF Employer @ 13.61% on Basic + DA - Rs. 2,042/- Net salary payment - Rs.35,508/-