Dear Team,
please tell me what will jv of salary of the month with epf and esic, when the employees had already received 40%of advance salary.
Also please tell what is the update EPF AND ESIC rate of employer and employee contribution 👌
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Journal entry
Replies (12)
Quick Summary
Journal Entry
When salary payable
Salary A/c Dr
To PF Contribution
To ESI Contribution
To Salary payable to Staff
When salary paid to staff
Salary Payable Dr.
To Bank
To Advance to Staff
When salary payable
Salary A/c Dr
To PF Contribution
To ESI Contribution
To Salary payable to Staff
When salary paid to staff
Salary Payable Dr.
To Bank
To Advance to Staff
Query said Advance salary already paid not payable .
@ prasad only 40% salary paid in Advance not full
If Total salary payable after ESI and PF Rs. 10000
Salary Payable Dr. 10000
To Bank 6000
To Advance Salary 4000
If Total salary payable after ESI and PF Rs. 10000
Salary Payable Dr. 10000
To Bank 6000
To Advance Salary 4000
@ Jitendra Kumar what you have pass entry of normal monthly Salary
But first he has taken advance salary then balance salary
so 40% entry will be
Advance Salary A/c Dr
To bank A/c Cr
( Advance Salary paid )
Then balance salary payment
Salary payable to Mr X A/c Dr
To Bank A/c Cr
To Advance Salary A/c Cr
To ESIC A/c Cr
To EPF A/c Cr
( Balance Salary paid with adjustment )
@ Prasad
Your first entry is right but salary due entry in not made by you
Only Direct entry made by you
Your first entry is right but salary due entry in not made by you
Only Direct entry made by you
Dear Jitendra Kumar , when we pay Advance salary we have to pass entry this way only , Advance will be adjusted at time of atual payment . Also full Salary will be debited to Profit & Loss A/c .
@ Prasad Ji,
I already said your Ist entry is right even your all entries are right
only before payment of salary, you make salary payable entry
No issue @ Prasad
I already said your Ist entry is right even your all entries are right
only before payment of salary, you make salary payable entry
No issue @ Prasad
Yes , you are correct After advance Salary entry , I miss payable entry .
In between entry will be
Salary A/c Dr
To Salary payable to Mr X A/c Cr
( Salary payable )
PRASAD
WHERE IS PROVISIONAL ENTRY OF SALARY?
HOW CAN U DEBIT SALARY PAYABLE WITHOUT CREATING A PROVISION FIRST
WHERE IS PROVISIONAL ENTRY OF SALARY?
HOW CAN U DEBIT SALARY PAYABLE WITHOUT CREATING A PROVISION FIRST
Dear @ sabyasachi
provision entry is exactly above your query , which I miss in hurry and made above your query .
Salary A/c Dr
To Salary Payable
( Salary payable )
Dear,
suppose if Employee salary 50 k/ per month and received 40 % advance salary then what will JV for salary of the month
suppose if Employee salary 50 k/ per month and received 40 % advance salary then what will JV for salary of the month
Dear Raza , I already pass all entries in the same earlier query . please refer your earlier query .
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