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How can we post Salary, PF etc., can anybody tell me the
entry
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Answer Posted / dhuha abdur rahman
Employees are paid net amount of salaries after deducting
their share of contribution to PF.
For payment of salary:
Salary a/c dr 10000
To PF payable a/c 1000
To Cash/Bank a/c 9000
For Employer's same share of contribution to PF:
Salary a/c dr 1000
To PF payable a/c 1000
When PF amount is actually paid:
PF payable a/c dr 2000(Employer's + Employee's share
of contribution)
To Cash/Bank a/c 2000
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