Salary Journal Entry Regarding..

EDLI has already included in employer provident fund that is 0.50 % no need to pass entry of it.

Salary Dr..          ( Gross salary indirect exp. )

Employee P.F.  Cr.   ( Current liab. 12 % of basic)

E.S.I.C. Cr.             ( Current liab 1.75%)

Bank A/c   Cr.

agree with pankaj but instead of crediting bank at first instance credit salary payable and then while making payment Dr salary payable and credit bank

Salary Dr is expense

All credits namely payables are laibilities

Originally posted by : sivaram
	agree with pankaj but instead of crediting bank at first instance credit salary payable and then while making payment Dr salary payable and credit bank Salary Dr is expense All credits namely payables are laibilities

agree completely.

agree with pankaj but instead of crediting bank at first instance credit salary payable and then while making payment Dr salary payable and credit bank

Salary Dr is expense

All credits namely payables are laibilities...

agree with pankaj but instead of crediting bank at first instance credit salary payable and then while making payment Dr salary payable and credit bank

Salary Dr is expense

All credits namely payables are laibilities...

Hi,

Check up my post here..

/forum/salary-sheet-master-format-100273.asp

It has all the entries for ESI/PF/Prof. Tax, etc.

Hope it helps.