question regurding VAT and Salary entry

This query is : Resolved

sumeet (Querist)
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13 December 2008 how URD purchases are taken into considration for tax calculation.

second.
what is entry for salary including PF, ESI Employees and Employers contrubution.

salary is 500000.

Employees Contrubution:
PF 60000
ESI 8750

Employer contrubution:
63250
23750.

SUBRAMANIA SARMA G

SUBRAMANIA SARMA G (Expert)
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13 December 2008 Are you a student or a professional CA

any way the entry would be as follows

Debit

Salary A/c 500000

credit
PF Payable a/c 60000
ESI Payable a/c 8750
Salary payable a/c 431250

DEBIT
Contribution to pf a/c 63250
Contribution to EST a/c 23250

Credit
PF Payable 63250
ESI Payable 23250

Debit
Salary payable 431250
PF Payable 123250
ESI Payable 32500
to bank 587000

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