How to recover the social security expenses withheld by employees?

How to recover the social security expenses withheld by employees?

The measures for enterprises to refund social insurance premiums are as follows:

Method 1: The returned social security directly offsets the related expenses, and the reduced social security will not be accrued for the current month.

(1) When the enterprise receives the refund of the social insurance premium collected in February 2020, it will withdraw and pay the social insurance premium paid by the unit according to the refund amount. The entries are as follows:

Borrow: Payable salaries of employees-pension, unemployment and work-related injury insurance (part borne by the unit)

Loans: management expenses/sales expenses/manufacturing expenses/production costs/projects under construction, etc.

Debit: bank deposit

Loans: Payable salaries for employees-pension, unemployment and industrial injury insurance (part borne by the unit)

(2) SMEs directly reduce or remit, and the unpaid three social insurance premiums will not be accrued and turned over.

(3) If a large enterprise is halved, the entries shall be withdrawn and turned over according to the halved amount. Please refer to the following:

Borrowing: management expenses/sales expenses/manufacturing expenses/production costs/projects under construction, etc.

Loans: salaries payable to employees-wages and salaries

Payroll payable to employees-pension, unemployment and industrial injury insurance (the unit burden will be halved)

Borrow: Other payables-pension, medical care and unemployment insurance (borne by individuals)

Payroll payable to employees-pension, unemployment and industrial injury insurance (the unit burden will be halved)

Loans: bank deposits

Method 2: Based on the principle of accounting comparability, it can be handled according to the government subsidy standard, and the returned social security is included in other income, and the accounting standards for small enterprises are included in non-operating income; During the relief period, it is also accrued first, and then transferred to other income or non-operating income.

What is the accounting entry for the unit to deduct social security expenses?

1. Accounting treatment of current payment

Borrow: management fee-endowment insurance premium (note: unit burden)

Other receivables-endowment insurance premium (note: personal burden)

Loans: bank deposits

2 when paying wages, the part paid by the unit shall be recovered, and the accounting treatment shall be carried out when deducting from the wages of employees.

Debit: payable to employees.

Loans: other receivables-endowment insurance premium

3. If no payment is made in the current period,

(1) Current accounting treatment

Borrow: management fee-endowment insurance premium

Loan: other payables-endowment insurance premium

(2) When paying wages, the part that individuals should pay should be deducted.

Debit: payable to employees.

Loan: other payables-endowment insurance premium

4. The enterprise will pay the enterprise withholding pension to the labor and social security department in the future.

Borrow: other payables-endowment insurance premium

Loans: bank deposits