How to prepare the accounting entries for the company to pay social security?

Company social security costs incurred by the expenditure, generally accounted for through the accounts payable to employees, the corresponding accounting entries should be prepared how?

Payment of social security premiums

Mainly divided into the following three cases:

1. Payment of social security

Borrow: Employee Compensation Payable-Social Insurance Premiums (Unit Part)

Other Receivables (Payment)-Social Insurance Premiums (Individual Part)

Loan: Bank Deposits

2. Accrued

Debit: Administrative Expenses-Social Insurance Premium (Unit Part)

Loan: Employee's Compensation Payable-Social Insurance Premium (Unit Part)

3. When Paying Salaries

Borrow: Employee's Compensation Payable-Salary (payable)

Loan: Other Receivables (Payable)-Social Insurance Premium (Individual Part)

Cash on hand (paid)

Social insurance premiums refer to the fees paid by employees and employers to the social insurance administration organization in accordance with the stipulated amount and period in the process of raising social insurance funds, which is the most important source of social insurance funds. It is the main source of the social insurance fund. It mainly includes basic pension insurance premiums, unemployment insurance premiums, basic medical insurance premiums, industrial injury insurance premiums and maternity insurance premiums.

What is employee compensation payable?

Employee compensation payable refers to the various forms of remuneration or compensation given by the enterprise to obtain the services provided by the employees or to terminate the labor relationship. Employee compensation includes short-term compensation, post-employment benefits, termination benefits and other long-term employee benefits. Benefits provided by the enterprise to employees' spouses, children, dependents, survivors of deceased employees and other beneficiaries, etc. are also classified as employee compensation.

The detailed accounts of employee compensation payable include "wages, bonuses, allowances and subsidies", "employee welfare", "non-monetary benefits", "social insurance", "social security" and "social security". "Social insurance premiums", "housing fund", "labor union and employee education expenses", "paid absences ", "Profit-sharing plan", "Defined contribution plan", "Defined benefit plan obligation", "Severance benefits," etc.

How do you account for reduced social security contributions?

The accounting treatment for the refund of social security premiums previously paid by an enterprise during the epidemic is as follows:

Borrow: bank deposits

Loan: other gains