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What is the journal and payment entry of P.F and E.S.I
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Answer Posted / naveen singh kalura
Total Salary Rs.200/-
Note :- EPF Contribution Rs.12% of Basic Salary
Note :- ESI Contribution Rs.1.75% of Grass Salary (Up-to 21000)
Example::
Basic Salary A/c Dr. 100
House Rent A/c Dr. 50
Conveyance Allowance A/c Dr. 50
To EPF A/c 12
To ESI A/c 1.75
To Salary Payable 86.25
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Pl's confirm me this entry how to pass in Tally 9.0 & Tally ERP.9 that if I purchase 20 mobile,30 phone,20 LCD,15 laptop from mangesh @ Rs.7000,Rs.200,Rs.17000 and Rs.14000 respectively on each. But I purchase by cash and 15 days later I sold half of the thing to priya margin of Rs.100 on each by cheque and rest i sold to minal on cash margin of Rs.200 on each. But I received cash 1 month later. so calculate how much profit I got by selling the products.
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