What is the journal and payment entry of P.F and E.S.I
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Answer Posted / amit verma
Journal Entry for Salary
1. For Creating Due Entry
Salary A/c Dr.
To PF Payable Cr.
To ESIC Payable Cr.
To PT Payable Cr.
To Salary Payable Cr.
2. Employer PF & ESIC Contribution Entry
PF Contribution A/c Dr.
PF Admin Charges A/c Dr.
To PF Payable A/c Cr.
ESIC Contribution A/c Dr.
To ESIC Payable A/c Cr.
3. Payment Entry
Salary Payable A/c Dr.
PF Payable A/c Dr.
ESIC Payable A/c Dr.
PT Payable A/c Dr.
To Bank Cr.
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