Jan 30, 2018 · Provident fund or PF is a compulsory retirement savings plan managed by the government where employees contribute a fixed percentage of their monthly pay-out and the same amount is contributed by the employer. Accounting and Journal entry for provident fund is …

Last updated at Dec. 13, 2024 by Teachoo. Q1. Salary paid by cheque 1 lakh. Q2. Q3. Q4.

Aug 3, 2015 · ESI: - Employee state Insurance scheme is a self-financing social security and health scheme for workers. It is applicable for all employees whose salary is Rs.15000/- per month.

PF & ESI to be paid A/c Cr (being amount debited for salries account) PF & ESI to be paid A/c Dr Bank / Cash A/c Cr.

Nov 27, 2018 · Both employer and employee may contribute to the provident fund. The provident fund contribution of an employee is normally deducted from the salary. The following entry to be recorded in the books of accounts: Both employer’s and …

Jun 19, 2012 · PF Employee Contbn. 2,400.00 (being Salary Payable for the month of May 2012). Salary Payable A/c Dr. 9,600.00 to Bank 9,600.00 (being Salary Paid for the month of May 2012) PF Employee Cotbn. 2,400.00 PF Employer Contbn 2,600.00 To Bank 5,000.00 (Being the PF Amount Paid for the month of May 2012)

Jan 22, 2010 · By following these guidelines, you can accurately record ESI and PF contributions in Tally ERP, ensuring compliance and proper financial management. Upgrade to CAclubindia Pro. Subscribe Now!

Jan 6, 2024 · In TallyPrime 4, you can process Employer ESI Contributions and make the payment towards ESI comprising of Employees’ and Employer’s ESI Contribution through a challan. To process the ESI Contribution for June 2024, follow the steps given below:

Jun 26, 2010 · Pass the journal entry of the payment of salary. You need to be the querist or approved CAclub expert to take part in this query .

Aug 18, 2024 · There are many Payroll Accounting Entries. Payroll accounting involves recording the various transactions related to paying employees for their work. This includes gross wages or salaries, deductions (such as taxes and benefits), and net pay.