Posting of p.f. entry

I want to know how to post the entry of PF

In the month of November PF of an Employee deducted Rs.80/- more (Instead of 700/- Rs.780/- has been deducted).

The PF has been paid in the Bank of Rs.700/- of what the actual amt. to be deducted. The Salary has been paid less.

How to Post the above entry.Pls. let me know.

 

Replies (2)

Entries will be:-

1. At the end of Month:-

Salary Account        .....Dr.   <Whole Salary Amt.>

Employer's Contribution .....Dr.    <Emp-er's Contribution>

               To Salary Payable            <Whole Salary Amt.-780>

               To PF Payable Account     <Emp-er's Contribution+780>

 

2. At the time of payment:-

 

PF Payable Account     <Emp-er's Contribution+780>

                To Bank Account

 

Entries will be:-

1. At the end of Month:-

Salary Account        .....Dr.            <Whole Salary Amt.>

Employer's Contribution .....Dr.    <Emp-er's Contribution>

               To Salary Payable          <Whole Salary Amt.-780>

               To PF Payable Account   <Emp-er's Contribution+780>

 

2. At the time of payment:-

PF Payable Account     ......Dr.       <Emp-er's Contribution+780>

                To Bank Account

 

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