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Salary to the employee comes under expense or liabilty to the
co? how?
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Answer Posted / moumita
While making the salary we pass 2 entries
1.Salary A/C ---Dr
To Salary payable A/c
2. Salary payable -- Dr
to Bank A/c
The above mentioned entries does not include PTax, and PF Portion. PTax and Employer's contribution to PF are considered as expenses to the company and on other hand Employee's contribution to PF is a Liability
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