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Provident Fund Calculation and Payroll in Manual System & in OpenERP

December 31, 2010 26 comments

Provident Fund Register of an Employee (say Mohsin) of 6 Months is below;

Mohsin Provident Fund Register
Provident Fund
Month Basic Salary By Employee 12% By Company 1.3% Net Salary Payable Net Provident Fund Payable
July 15000 1800 195 13200 1995
Aug 15000 1800 195 13200 1995
Sep 15000 1800 195 13200 1995
Oct 15000 1800 195 13200 1995
Nov 15000 1800 195 13200 1995
Dec 15000 1800 195 13200 1995
Total 90000 10800 1170 79200 11970

Accounting Aspects of each month as Below:

We will use the following list of accounts with balances. Read more…

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