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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

07- Issac Jolly-XII C

CA Inter

13K+

08-Oct-24 07:18

197

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

Pranay Mehta

Faculty

11-Oct-24 08:53

Like employer contribution PF , PT , etc


R Yashwanth Kumar

R Yashwanth Kumar

CA Final

86K+

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

07- Issac Jolly-XII C

CA Inter

13K+

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

vamsi krishna

CA Inter

43K+

09-Oct-24 12:02

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