What is the journal and payment entry of P.F and E.S.I
- 21 Answers
- 216704 Views
- ABC, Chartered Accountant, IBM, Kohinoor, I also Faced
- E-Mail Answers
Answer Posted / sateesh kumar reddy.p
Salary A/c___Dr. 10000
Employer-ESI Contribution A/c____Dr. 475
Empolyer-PF Controbution A/c_____Dr. 1200
Employee-ESI Contribution Payable A/c______Cr. 175
Empolyee-PF Controbution Payable A/c_____Cr. 1200
Employer-ESI Contribution Payable A/c______Cr. 475
Empolyer-PF Controbution Payable A/c_____Cr. 1200
Professional Tax Payable A/c_____Cr. 150
Salary Payable A/c_______Cr. 8625
Here Employer-ESI&PF Contribution A/c's claim as indirect expenses.
Payment Entry.
1.Salary Payable A/c____Dr. 8625
Cash/Bank A/c______Cr. 8625
Payment to Employee.
2.PT payable A/c____Dr. 150
Cash/Bank A/c______Cr. 150
Payment to State Govt.
3.Employee-ESI Contribution Payable A/c____Dr. 175
Empolyee-PF Controbution Payable A/c___Dr. 1200
Employer-ESI Contribution Payable A/c____Dr. 475
Empolyer-PF Controbution Payable A/c___Dr. 120
Cash/Bank A/c____Cr. 1970
Payment to Central Govt.
| Is This Answer Correct ? | 42 Yes | 15 No |
Post New Answer View All Answers
List out the stages of double entry system?
What is aggregate Liabilities ?
a cheque is received from a debtor and is deposited in the bank on the same day. what will be the journal entry?
WHAT ARE THE DIFFICULT ELEMENT OFF JOB
Trial balance as on 31st March, 2014 Particulars Debit Pula Particulars Credit Pula Wages 14 100 Dividends received 4 300 Salaries 13 000 Bank overdraft 41 000 Opening Stock 40 000 Returns 1 000 Machinery 49 000 Creditors 14 200 Investments 30 700 Sales 258 500 Drawings 23 000 Capital 30 000 Purchases 130 000 Returns 2 000 Debtors 18 000 Advertising 13 400 Interest 4 800 Cash 11 000 349 000 ======= 349 000 ======== Additional information: 1. Closing stock is valued at P53 000. 2. Wages include P350 being advance against wages. 3. Wages include P1 000 paid for erection of machinery. 4. A purchase of stationery for P430 has been inadvertently included in the Purchases account. 5. A sale of investments with a book value of P2 600 for P2 500 has been included in the Sales Account. 6. Salaries include P150 per month paid to the proprietor’s domestic servant. 7. Machinery is to be depreciated by 10 per cent. Required: a. The revenue statement (Trading and Profit and Loss Account) for the year ended 31st March 2014 and b. Statement of financial position (Balance Sheet) as on 31st March, 2014.
we are a trading company providing devices and some times after sales service. when any defect came we just replace the hardware from another defective device and getting the payment from the customer. how can we account that? is there any tax implications for this?
Knowing what you know now, walk me through what you would do differently to drive even more success?
what is the right process for input credit of Service tax. and on which service i can take credit.
In 3 way match.....Order qty is 100 and received 90 and 10 got rejected. But the supplier sent an invoice for 100 qty. what are the steps we need to take in SAP. Whether we need to reject the invoice or process with the 90 qty .please explain with real time.
is WCT aplicable on educational institutions also??????
how will decide that vender payment is ok without reco
Tell me what are the three factors that can affect your cash flow and business profitability?
how to solve cashbook question
GOODS LOST BY FIRE 100 RS, INSURANCE MONY RECEIVED 120,40 PENDING FOR FINAL SETTLEMENT- Journal Entry
What is the definition of accounting?
