Dear Seniors,
I am in to construction industry. working as contractor, we engage petty contractor at project. all compliance & statutory dues paid by us( main contractor). Bill raised by contractor to us( As per Rate agreement), we pay to sub contractor & sub contractor pay salary to their respective worker.
Wage sheet is prepared as per minimum wages by main contractor.
My query is :( How the statutory expense can be booked under P & L accounts of Main contractor.
1) PF contribution : EE & ER contribution both expense can be booked in P & L Accounts as expenditure?
2)ESIC Contribution : EE & ER contribution both expense can be booked in P & L accounts as expense ?
Kindly advise.
Reg
Pradeep
From India , Mumbai
I am in to construction industry. working as contractor, we engage petty contractor at project. all compliance & statutory dues paid by us( main contractor). Bill raised by contractor to us( As per Rate agreement), we pay to sub contractor & sub contractor pay salary to their respective worker.
Wage sheet is prepared as per minimum wages by main contractor.
My query is :( How the statutory expense can be booked under P & L accounts of Main contractor.
1) PF contribution : EE & ER contribution both expense can be booked in P & L Accounts as expenditure?
2)ESIC Contribution : EE & ER contribution both expense can be booked in P & L accounts as expense ?
Kindly advise.
Reg
Pradeep
From India , Mumbai
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PF ESIC.xls