Menu
How to pass salary entry in case of ctc amount
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/-
Replies (1)
| Particulars | L/F | Debit Amount | Credit Amount | |
| Basic + DA A/c | 15000 | |||
| HRA A/c | 7500 | |||
| Conveyance Allowance A/c | 1600 | |||
| Other Allowance A/c | 15900 | |||
| PT A/c | 200 | |||
| TDS A/c | 450 | |||
| PF Employee contribution A/c ( @ 12% on Basic + DA ) |
1800 | |||
| PF Employer Contribution A/c ( @ 13.61% on Basic + DA ) |
2042 | |||
| Cash / Bank A/c | 35508 | |||
| 40000 | 40000 | |||
Recent Topic
- Cross-utilization of ITC between Trading and Resta
- Form 121 eligibility for non deduction of TDS for
- Gold/silver etf. STCG. how to decalre in ITR at s
- ITR-2 : cash income that does not fall under any h
- Debit note issued to supplier
- Ca pratik takkar imp list
- TDS EXECESS AMOUNT ADJUSTMENT
- What's the ONE thing about GSTR-2B / IMS reconcili
- Is GST Registration Mandatory for Freelancers in I
- ITR TO FILE
Related Topics
CAclubindia
