Journal Entry For ESIC

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accountant
56 Points Posted on 21 June 2020
If we have paid the salary without deducting ESIC earlier so what is the journal entry for booking of ESIC after that??
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On 21 June 2020 at 13:54 Report
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Quick Summary
If ESIC was not deducted earlier, you first book salary expense and then create ESIC payable liability. Entry: Salary A/c Dr To ESIC Payable A/c (employee + employer share) To Bank/Salary Payable A/c. This adjusts missed deduction and records statutory liability correctly.

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GST Practitioner & Accounts
15150 Points Posted on 21 June 2020

Suppose  You paying Salary to Mr  X  along  with deductions of  ESIC  and other . 

Salary                     A/c    Dr 

To Mr  X                 A/c                      Cr 

To ESIC                 A/c                     Cr 

To  P,F                   A/c                      Cr 

To Professional  Tax     A/c              Cr 

(  Booking  of   Salary  expense  and other  deductions  Including  ESIC )  

1 Reply
On 21 June 2020 at 14:38

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