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what is the ESI ? TELL ME RATE HOW TO WRITE ENTRY
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Answer / senthil
ESI - Employees' State Insurance, Whose salay dose not
exceeds Rs.10000 per month is liable to the company to
deduct 1.75% from gross salary and along with that 4.75%
employer contribution to be paid to ESI office with challan.
The entry will be -
Salary A/c Dr (Gross) 10000.00
Salay payabe A/c Cr 9825.00
ESI Payable A/c Cr 650.00
ESI Employer Cont. Dr. 475.00
| Is This Answer Correct ? | 19 Yes | 4 No |
Answer / raju
ESI - Employees' State Insurance, Whose salay dose not
exceeds Rs.10000 per month is liable to the company to
deduct 1.75% from gross salary and along with that 4.75%
employer contribution to be paid to ESI office with challan.
The entry will be -
Salary A/c Dr (Gross) 10000.00
Salay payabe A/c Cr 9825.00
ESI Payable A/c Cr 175.00
| Is This Answer Correct ? | 13 Yes | 2 No |
Answer / justin
ESIC - Employee State Insurance Corporation
1.75% from Employee Share
4.75% from Employer Share
Gross Salary Limit is Rs.15000/-
At the time of Recovery
Salary a/c Dr
To ESI Employee Share a/c
To Salary Payable a/c
At the time of Payment to Department
ESI Employee Share a/c Dr
ESI Employer Share a/c Dr
To ESI Payable a/c cr
| Is This Answer Correct ? | 2 Yes | 0 No |
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