06-12-2014, 12:48 AM
suppose basic salary(mean to say payable in hand) :10000
employee PF contribution:500
Employer's contribution: 500
Entry will be Salary A/c Dr. (10,000+500)-----P&L
Employer's contribution A/c 500------P&L
To Pf payable 1,000---------B/S
To salary payable 10,000---------B/S and due date of PF payment is 20th ( including days of grace) of the nxt mnth.... And for ESIC its 21st( including days of grace) of nxt mnth The entry for ESIC is same as of PF Plz correct me if m wrng.
employee PF contribution:500
Employer's contribution: 500
Entry will be Salary A/c Dr. (10,000+500)-----P&L
Employer's contribution A/c 500------P&L
To Pf payable 1,000---------B/S
To salary payable 10,000---------B/S and due date of PF payment is 20th ( including days of grace) of the nxt mnth.... And for ESIC its 21st( including days of grace) of nxt mnth The entry for ESIC is same as of PF Plz correct me if m wrng.
