Provident fund is a kind of social security and a kind of reserve of enterprises. When paying the provident fund, accountants generally handle it through such subjects as "Payable staff salaries" and "Other payables". What are the relevant accounting entries?

Accounting entries for payment of provident fund

Borrow: Payable staff salary-housing accumulation fund (unit part)

Other payables-housing accumulation fund (individual part)

Loan: bank deposit

Accrual time:

Borrow: management expenses-housing accumulation fund (unit part)

Loan: Payable staff salary-housing accumulation fund (unit part)

When paying wages:

Debit: Payable staff salaries-wages (payable)

Loan: other payables-housing accumulation fund (individual part)

Bank deposits ((issued amount)

What is the housing accumulation fund?

Housing accumulation fund refers to the long-term housing savings paid by state organs and institutions, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises and institutions, private non-enterprise units, social organizations and their employees.

The characteristics of housing provident fund are:

1, universality, urban employees must pay housing provident fund in accordance with the provisions of the Regulations;

2, mandatory (policy), the unit does not apply for housing provident fund deposit registration or not for the employees of the unit to set up housing provident fund accounts, can be punished according to the relevant provisions of the "Regulations";

3. Welfare, the interest rate of housing provident fund loans is lower than that of commercial loans;

4. Repayment: In the case that the employee retires, retires, or completely loses the ability to work, the paid housing provident fund will be returned to the individual employee.