25 June 2012
Basic Salary 4060 HRA 1624 incentive 200 Other All. 4466 Less PF 487 ESIC 181 PT 150 salary payable 9532 __________________________________
In above situation what is the entry made in tally like JV and payment entry and under which head above all ledger comes like salary payable come under cur. lia. pl. send me the total entries regarding above transaction.
11 July 2012
first you pass journal voucher as on 31/30th admn salary account dr - 10350 to Professional tax - 150 to Employee PF - 487 to employee ESI cont - 181 to Salary payable - 9532 here salary account -indirect expenses professional tax(from co treat as expense) - statutory liability pf and esi - statutory liability(only employee contribution) Salary P'ble - current liabilities 2)Payment: salary pble a/c dr 9532 to bank/cash a/c 9532 here bank in asset(od in loans(liab) 3)statutory payment i) Pf: employee PF cont dr 487 employer PF cont dr 552 To bank a/c 1039 here employer contribution pf treated as expense only in the case of employer contribute . but it also deduct from employee it should be liab) ii) ESI: ESi employee Pble A/c dr 181 ESI employer A/c dr 491 To Bank account - 672 here employer contribution treated as expense(P?L Account) iii) PT P T p'ble Dr 150 To bank A/c 150
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