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Accounting treatment

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(Querist)
04 July 2014 what would be accounting treatment in the books of school if a school paid net salary Rs-120000 and deduct P.F Rs. 14400
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Rupesh Jain

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Rupesh Jain (Expert)
04 July 2014 you pay salary 120000/- and pf is 12% of Rs. 120000/- it is Rs. 14400/-
you have to gross the salary 120000+14400= 126400/- for salary exp.

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