Pf & esi journal entries

This query is : Resolved

NAVANEETHAKRISHNAN S (Querist)
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29 December 2012 Gross Salary 53500

Net Salary 46144

Employee Contribution for PF 6420

Employee Contribution for ESI 936

Employer Contribution for PF 6420

Employer Contribution for ESI 2541

PF Admin chrgs 1250

EDLI Fund 250

EDLI admin chrgs 20

Pass Necessery Jounal Entries :

a) When pay the salary.

b) When pay the pf & esi

c) When put the provision for march

@VaibhavJ

@VaibhavJ (Expert)
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29 December 2012 Hi

In short:

Gross Salary Dr
Stat Exp Dr
..To Net Pay
..To Stat Exp Liabilities

When Salary is paid..

Net Pay Dr..
..To Bank A/c

In March also same entry to be passed, coz in 1st entry provision will be taken care.

Thanks!!

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NAVANEETHAKRISHNAN S

NAVANEETHAKRISHNAN S (Querist)
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29 December 2012 Statutory expenses stands for . . . ?

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@VaibhavJ

@VaibhavJ (Expert)
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29 December 2012 hey that all PF, ESIC, PT, LWF items..

Thanks!!

NAVANEETHAKRISHNAN S

NAVANEETHAKRISHNAN S (Querist)
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29 December 2012 i know sir . .i got rs.8961 as a shortage when we put the first entry . . . why is the difference . . the journal entry should be tally . .