Contribution to epf & esi
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 April 2016
SIR
Can u please tell me the Rules to deduct ESI and EPF. AND WHAT SHOULD BE THE JOURNAL ENTRY REQUIRED TO BE PASSED IN TALLY ?
Employer contribution to epf and esi is expenditure for him or not.
please tell m i right or wrong..........ASSUMe SALARY Rs. 10000/-
SALARY A/C (expense) DR 10000
EMPLOYER ESI (expense) DR 367
EMPLOYER EPF (expense) DR 475
TO EMPLOYEE EPF PAYABLE (liability) 1200
TO EMPLOYEE ESI PAYABLE (liability) 475
TO EMPLOYER ESI PAYABLE (liability) 367
TO EMPLOYER EPF PAYABLE (liability) 475
TO SALARY PAYABLE A/C (liability) 8325
Can u please tell me the Rules to deduct ESI and EPF. AND WHAT SHOULD BE THE JOURNAL ENTRY REQUIRED TO BE PASSED IN TALLY ?
Employer contribution to epf and esi is expenditure for him or not.
please tell m i right or wrong..........ASSUMe SALARY Rs. 10000/-
SALARY A/C (expense) DR 10000
EMPLOYER ESI (expense) DR 367
EMPLOYER EPF (expense) DR 475
TO EMPLOYEE EPF PAYABLE (liability) 1200
TO EMPLOYEE ESI PAYABLE (liability) 475
TO EMPLOYER ESI PAYABLE (liability) 367
TO EMPLOYER EPF PAYABLE (liability) 475
TO SALARY PAYABLE A/C (liability) 8325
14 April 2016
Absolutely right...!!!
There are two deduction type one is taking from employee and second is contributed by employers. so collect will be paid which is like liability arise and paid set off but contribution by employer they have to write as expense.
There are two deduction type one is taking from employee and second is contributed by employers. so collect will be paid which is like liability arise and paid set off but contribution by employer they have to write as expense.
14 April 2016
You have done right entry even you can bifurcate into two entry. 1. salary entry 2. employer contribution entry.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- Sale of property furniture sale
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Tds on building rent monthly
- Confusion around Form 26QB fields
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
Trending Online Classes
CAclubindia
