What is the journal and payment entry of P.F and E.S.I
Answer Posted / mohd. imran ansari
journal entries
1. Due entries of salary
salaries a/c dr 10000
to salaries payable a/c 10000
2. statutory deduction on salary payment entries
salary payable a/c dr 10000
to esi employee. 175
to epf employee. 1200
to esi employer. 175
to epf employer. 1200
to Bank/Cash. 7250
3. payment of statutory deduction
esi employee a/c dr. 175
epf employee a/c dr. 1200
esi employer a/c dr. 175
epf employer. a/c dr. 1200
to. bank/cash. 2750
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