Hi sir/Madam
For a house keeping services proprietor firm
Could you please clarify below of my queries
1. Is salary a direct expense or indirect expense
2.classification of Employee pf contribution and Employer PF Contribution (Expense and Liability)
Thanks for your help
Menu
Salary and PF entry
Replies (2)
Wages are direct and salaries are indirect cause they are not related to production or revenue generators.
the format is like this
By Basic salary
By allowances
By EPF/EPS/ESIC a/c
By Admin charges towards EPF
===========================================================
To EPF/EPS/ESIC payable
To Professional tax payable
To TDS payable
To Labor welfare fund payable
To Salaries payable
To Admin charges payable
To allowances payable
1) Salary will be Indirect expenses
2) PF Contribution towards employees will be expenses to Company
PF Contribution of employees will be Liability to pay in Govt Account.
2) PF Contribution towards employees will be expenses to Company
PF Contribution of employees will be Liability to pay in Govt Account.
Recent Threads
- GST RCM Liability on Royalty on Gujarat State
- Head of income for TDS u/s 194JB
- Property purchase value acquired before 2001
- Error in ITR3 - OS sheet.
- 57th GST Council Meeting: Rate Rationalization on
- Can I amend Bills of Gstr1 after filing for itc re
- REITS and which itr ?
- LONG TERM CAPITAL GAIN ON SALE OF listed SHARES
- AI Tools for Accounting
- Commission are brokerage
Related Threads
CAclubindia
