Hi
Please provide the acconting entries for Esi and pf payable while making a payment . And kindly specify it with the accounting rule( as its a real or nominal )
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Pf , and esi payable accounting entry
Replies (2)
Salary a/c Dr.: Gross amount
Employer Contribution to pf Dr.: Employer Contribution Amount
Bank/Salary Outsanding Cr.: Amount Excluding Pf & ESI AMount
To Provident Fund Payable Cr.: Total PF Amount
To ESI Payable A/C Total ESI Contribution
1. Employer contribution to pf dr. (Expense)Employee contribution to pf dr.(Liability)
To pf payable
2. Pf payable dr. To bank a/c. cr.
3. E.S.I. payable dr. To bank a/c. cr.
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