We have recruited one of employee for Rs 1 Lacs and nature of employment is as consultant Break up is Rs 75 K towards professional fee, 25 K towards Rent free accommodation. Now as a 25 K should i account under Rent expenses or Professional fees.
18 August 2013
Refer the agreement with the consultants. incase the rent provision mentioned in the agreement you can book the rent payment as Rent paid Others
Querist :
Anonymous
Querist :
Anonymous
(Querist)
19 August 2013
Its Rent Free accommodation provided to the employee as per the salary agreement.
My question should that part will come under the profession fee or rent expenses in employer books of accounts
19 August 2013
Query is confusing.. how the consultant become employee?. is there employee and employer relationship is there?
Querist :
Anonymous
Querist :
Anonymous
(Querist)
20 August 2013
Dear Ramesh,
Sorry for confusion.
Company has recruited as consultant.
With break up remuneration as 75 K as professional fee and 25 K as Rent free accommodation. Professional fee will be paid to consultant and rent will be paid to land lord.
My question is is company should so 25 K as rent or professional fee