What are the accounting entries in the personal part of social security?

The social security of the employees of the company is withheld and remitted by the enterprise, including endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance. How to make accounting entries when extracting personal social security?

How to make accounting entries for the personal part of social security provision?

Personal social security burden is reflected in the entries of accrued wages, and the accounting treatment is as follows:

Borrow: management fee

production cost

Sales expenses and other subjects.

Loans: Payables-Social Security

Accounting treatment during payment:

Debit: Payables-Social Security

Other receivables (personal burden)

Loans: bank deposits

Accounting treatment when personal burden is deducted from personal salary;

Debit: Payables-Wages

Loan: Other receivables (personal burden)

Accounting entries for providing and paying wages

Borrow: production cost (wages of production workers in the production workshop)

Manufacturing cost (salary of production workshop management personnel)

Management expenses (executive compensation)

Sales expenses (sales staff salaries)

Loan: wages payable to employees.

Actual distribution:

Debit: payable to employees.

Loans: bank deposits, cash on hand, etc.

What are the wages payable to employees?

Salary payable to employees includes the following contents:

1, wages, bonuses, allowances and subsidies;

2. Employee welfare funds;

3. Social insurance premiums such as medical insurance, endowment insurance, unemployment insurance, industrial injury insurance and maternity insurance;

4. Housing accumulation fund;

5, trade union funds and employee education funds;

6. Non-monetary benefits;

7. Compensation for the termination of labor relations with employees;

8. Other expenses related to obtaining services provided by employees.