madhu (CA FINAL) (190 Points)
12 June 2013
AASHI
(Pursuing articleship)
(1482 Points)
Replied 13 June 2013
1. ESIC is deducted from salary(i.e employees contribution) so entry would be-
Salary A/c Dr.
To Employees contribution to ESIC
To Bank
2. Entry for employers contribution to ESIC
a.Employers contribution to ESIC A/c Dr.
To ESIC Payable
b. Profit & Loss A/c Dr.
To Employers Contribution To ESIC
3. Entry for payment of both
ESIC Payable A/c Dr.
Employees Contribution to ESIC A/c Dr.
To Bank
CA Final
(CA Final Student)
(856 Points)
Replied 13 June 2013
Please also guide about the Audit .............