Esic & epf
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 December 2013
Dear sir
we are service provide & we hv receive a contractor bill for the service, in which he is not registered under ESIC & EPF act . now we are deducting esic & epf of the contractor @6.75% & 25.61%. pls suggest what accounting entry to be passed inn the books
regards
rakesh sharma
we are service provide & we hv receive a contractor bill for the service, in which he is not registered under ESIC & EPF act . now we are deducting esic & epf of the contractor @6.75% & 25.61%. pls suggest what accounting entry to be passed inn the books
regards
rakesh sharma
06 December 2013
Principal employer is responsible for PF/ESI incase contractor not registered. you can make the normal PF payable entry with separate contract labours ledger and credit and discharge the liability
06 December 2013
If Expenses can be recovered from the contractor then:
Contractor A/c Dr.
To PF Contribution Contractor
To PF Contribution Employer
To ESIC Contribution Contractor
To ESIC Contribution Employer
[Being Contribution to PF and ESIC provided for]
If Expenses can not at all recovered then:
Legal & Professional Expenses Dr.
To PF Contribution Contractor
To PF Contribution Employer
To ESIC Contribution Contractor
To ESIC Contribution Employer
[Being Statutory Expenses for Job Work / Contract Provided For]
Contractor A/c Dr.
To PF Contribution Contractor
To PF Contribution Employer
To ESIC Contribution Contractor
To ESIC Contribution Employer
[Being Contribution to PF and ESIC provided for]
If Expenses can not at all recovered then:
Legal & Professional Expenses Dr.
To PF Contribution Contractor
To PF Contribution Employer
To ESIC Contribution Contractor
To ESIC Contribution Employer
[Being Statutory Expenses for Job Work / Contract Provided For]
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 December 2013
thanks sir
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