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Accounting entries for salary income

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 July 2013 Dear Experts,

While passing accounting entries, net salary received is considered as income. Also is pt,income tax & employees pf is considered as income?Foll entries:

Bank a/c dr
To salary Net Salary recd

PF(Employees contri) a/c Dr
PT Dr
TDS Dr
To salary

Are these entries correct??

Also what abt employers contribution to pf and pension fund...can we pass foll entry:

PF Dr
Pension fund Dr
To Capital
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
22 August 2013 Since you are considering net salary as income, how other deductions come under Debit

Last entry PF to Capital is correct

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