How to withhold and remit social security accounting entries?

Social insurance mainly includes endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance. According to the existing policies and regulations, enterprises need to withhold and remit employees' social security when paying wages. For social security expenses, they are generally included in the accounts payable to employees' salaries and other payables. How to make relevant accounting entries?

Accounting entries for withholding social security

Pay social security fees

Debit: Payable staff salaries-social insurance premium (unit part)

Other payables-social insurance premium (personal part)

Loans: bank deposits

Accrual time

Borrow: management fee-social insurance fee (unit part)

Loan: wages payable to employees-social insurance premium (unit part)

When you get paid

Debit: Payable-Payable (Payable)

Loan: other payables-social insurance premium (personal part)

Bank deposit (paid)

What is the salary payable to employees?

Salary payable to employees mainly accounts for various salaries payable to employees by enterprises in accordance with relevant regulations.

The following detailed items can be set for the payable employee salaries: wages, bonuses, allowances, subsidies, employee welfare funds, social insurance premiums, housing accumulation funds, trade union funds, employee education funds, compensation for the termination of employee labor relations, non-monetary benefits, and other expenses related to obtaining services provided by employees.

What are other payables?

Other payables refer to the payables and temporary receipts incurred by enterprises outside the commodity trading business, including: payable fixed assets and chartering, wages that employees fail to receive on time, deposits received, etc.

How much is the management fee?

Management expenses refer to various expenses incurred by an enterprise for organizing and managing the production and operation of the enterprise, including start-up expenses, company funds, property taxes, travel taxes, trade union funds, directors' dues, legal fees and business entertainment expenses incurred by the administrative department of the enterprise in the operation and management of the enterprise or uniformly borne by the enterprise.