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salary journal entry

Sandeep Sharma (Accounts executive) (515 Points)

16 April 2019  
Please pass the detailed journal entry for booking salary?

 6 Replies

Giridhar S Karandikar (Team Lead) (7353 Points)
Replied 16 April 2019

salary. Dr
to employee
to TDS
to epf
to other deductions

prasad Nilugal (3859 Points)
Replied 16 April 2019

when you pay salary

Employees A/c Dr

To Bank A/c Cr

( Being salary Paid )
1 Like

HARIOM SHARMA (GENERAL MANAGER-FINANCE AT NSEZ A GROUP OF COMPANIES)   (67 Points)
Replied 17 April 2019

  DIRECTORS SALARY A/C Dr 800000.00    
  Salary & Wages A/c Dr 3558391.00    
  HRA Dr 770836.00    
  CONVEYANCE SALARY Dr 799146.00    
  SPECIAL ALLOWANCE Dr 816998.00    
  EMPLOYERS CONTRIBUTION TO EPF Dr 519783.00    
  ESI Contribution Employer Dr 135290.00    
  EPF ADM. CHARGES Dr 37759.00    
  EDLI CHARGES Dr 21653.00    
  EPMLOYEE 9 - ADVANCE Dr 135.00    
To Salary Payable Cr   5724720.00  
To EPF PAYABLE A/C Cr   1098978.00  
To ESI PAYABLE Cr   185393.00  
To TDS PAYABLE OTHER THAN COMPANIES Cr   426400.00  
To EMPLOYEE 1- ADVANCE Cr   4000.00  
To EMPLOYEE 2- ADVANCE Cr   5000.00  
To EMPLOYEE 3- ADVANCE Cr   6000.00  
To EMPLOYEE 4- ADVANCE Cr   3000.00  
To EMPLOYEE 5- ADVANCE Cr   1000.00  
To EMPLOYEE 6- ADVANCE Cr   4000.00  
To EMPLOYEE 7- ADVANCE Cr   1000.00  
To EMPLOYEE 8- ADVANCE Cr   500.00  
On Account of :          
BEING  AMOUNT OF SALARY  RS. 7459856.00  INCLUDING  ESI & EPF (THIS IS SAMPLE CASE)
₹ 7459991.00 ₹ 7459991.00  

Sandeep Sharma (Accounts executive) (515 Points)
Replied 17 April 2019

Thank you very much hariom sir

HARIOM SHARMA (GENERAL MANAGER-FINANCE AT NSEZ A GROUP OF COMPANIES)   (67 Points)
Replied 17 April 2019

For Computations of EPF and ESI catch up with your HR team.

Sandeep Sharma (Accounts executive) (515 Points)
Replied 17 April 2019

Sir do we need to also open the ledger account for EMPLOYEE PF CONTRIBUTION??

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