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Wage/salary payable

Costing

In this video. Sir have mentioned that wage payable include statutory employer payment. How does employers statutory payment involves in payable. Video Details ------------- Cost and Management Accounting Employee Cost #4. Statutory Deductions

07- Issac Jolly-XII C

CA Inter

★ 16K+

08-Oct-24 07:18

392

Answers (4)

Best Answer

Wage payable to employee = basic minus employee share deducted Cost to be debited= basic plus employers share. Hope this clarifies

Pranay Mehta

Faculty

11-Oct-24 08:53

Like employer contribution PF , PT , etc

R Yashwanth Kumar

CA Final

★ 87K+

08-Oct-24 11:26

No sir, my question was does employers contribution will be involved in wage payable

Thread Starter

07- Issac Jolly-XII C

CA Inter

★ 16K+

08-Oct-24 14:54

Thread Starter

07- Issac Jolly-XII C

No sir, my question was does employers contribution will be involved in wage payable

After calculation of wages by payroll department, both employees and employers contributions to pf, insurance which are included before get deducted now and also statutory payments by employer like tds is also deducted and the remaining wage is payable to employee

vamsi krishna

CA Inter

★ 43K+

09-Oct-24 12:02