salary and salary deductions.docx

8/10/2019 Salary and salary deductions.docx

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TABLE OF CONTENTS


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LIST OF ABBREVIATIONS

No. Abbreviations Meaning

1

2 etc And other things

3 JSC Acitt SAI GON Joint Stock Company Acitt SAI GON

4 HCMC Ho Chi Minh city

5

67

8

9

10

11

12

13

14

15


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LIST OF TABLES AND CHARTS

Table Title Page

1.1 6

1.2 7

2.1 9

2.2 10

2.3 11

2.4 12

2.5 13


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PREFACE

1. The reason selected this subject

The salary is the income of the employee on the basis of quantity and quality of laborwhile performing the work of the workers themselves as committed between employers

and employees. For now, the salary is the cost of production. The salaries accounted for

enterprises to perform an accurate and reasonable. Salaries are paid on the labor

outcomes will stimulate employees to work, increase business efficiency, promote

spiritual vigor work, creativity during labor. In addition to the salary that the employee is

entitled to the bonuses, allowances, social insurance, health insurance, unemployment

insurance, union dues is the social fund which employees are entitled, it represents the

interest of society, the enterprise to the members of the enterprise.

Salary are always a matter of social attention by economic significance and its greatsocial.

In the past few years, the salary is no small part of the cost. If enterprises use reasonable

salary regime will motivate increased labor productivity,..

Salary role leverage effect is direct economic impact to employees. Labor costs account

for a relatively large proportion of the total production cost of enterprises. So enterprises

need to strengthen labor management, accounting salary and salary deductions need

accurate and timely manner to ensure the rights of workers and facilitate increased

productivity labor, labor cost savings, promote production and lower production costs.

For employees who have a significant salary is extremely important because it is the main

source of income to help them ensure their own lives and families. Therefore salaries can

be motivated workers labor productivity growth if they are paid in accordance with their

labor contribution, but also can reduce labor productivity makes the production process

slowed not be effective if wages are paid less than the labor of the workers money. In the

whole range of the economy, wages are the more specific of the distribution of wealth by

the workers out. Therefore, the construction of monthly salary, choose the appropriate

form of payment so that both wage income to employees to ensure the needs both

physically and mentally, and make wages become motivated workers work better, have

more responsibility to work really needed jobs.


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2. Research objective

-

General objectives:

Baseline survey of accounting wage and salary deductions in "JSC Acitt SAI GON".

Since then, for a deeper understanding of the theory and look more realistic accounting ofsalaries and salary deductions.

-

Specific objectives:

+ Learn rationale for wage and salary deductions.

+ Reflects actual accounting of wages and salary deductions in enterprises

+ Suggest general comments and suggest some ways to improve the work release

accounting wage and salary deductions in the enterprises.

3.

Research Methodology

- Research methodology in this room are mainly collected from administrative and

accounting department of finance company to find out about wage and salary deductions

in "JSC Acitt SAI GON".

+ The sum salary

+ Table payroll and salary deductions

+ ... ..

4.

Scope of Research

Find out the status of accounting wage and salary deductions in "JSC Acitt SAI GON".

Research topics Accounting Payroll and salary deductions in "JSC Acitt SAI GON".

Time is chosen research topic is Nov 2014 and the data of three years 2012,2013,2014.


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1. Overview

An overview of the theory of salary and salary deductions in JSC Acitt SAI GON"

1.1.

Rationale for salary and salary deductions for businesses

1.1.1.

Salary:

Labour is active limbs and minds of the people to change the object of labor into useful

items that cater to the needs of people

Salary (remuneration) is the amount of labor remuneration paid by enterprises for labor

quantity, quality and results of their labor contribution to the enterprise in order to

reproduce labor power, offset waste their labor in the production process of business

1.1.2. Meaning, missions and functions of accounting salary and salary

deductions.* The meaning:

- Labor is an indispensable factor in production and business operations should account

salary and salary deductions have great significance in the management of production and

business of enterprises.

- Accounting for good labor wages and salary deductions to help the management

personnel in discipline disciplined, and enterprises forms the basis for payment of social

insurance benefits for people employees leaving in the case of sick leave, maternity, labor

accidents.

- Organize good work helps salary for the management of wages paid closely to ensure

proper policies and enterprises and also a basis for calculating the allocation of labor cost

and reasonable enterprises expenses.

* Mission:

With the above definition, accounting employee salaries and salary deductions must

perform the following tasks:

- Organize notes reflect timely, accurate data on the number, quality and outcome of

labor. Guide parts of enterprises records and rotation of the original documents on labor,

salary and salary deductions

- Calculate accurate and timely payment of salaries, bonuses, allowances and social

security deductions in accordance with regulations.


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- Calculation and allocation of accurate, reasonable costs of salaries and salary

deductions subject to cost accounting.

- Elaborate reports of labor, salary, social security pension situation which analyzed the

use of labor, wage funds of enterprises to measure employers more effectively .

* The function of salary:

- Function reproduction of labor:

The process of reproduction of labor is done by laborers paid through salary. The nature

of the product of labor history is always perfect and often enhanced by recovery and

development, and the nature of the reproduction of labor is going to be a living salary

given to them can maintain and develop new labor (nurturing and educating the next

generation), accumulated experience and improve, improvement of labor.

- Function as a tool of enterprises management:The ultimate goal of the administration is the most profitable. To achieve this goal they

must know the rhythm and manage an art element in business processes. The employer

may conduct surveillance, monitoring employees working according to plan, organize

your payroll through them, to ensure that their costs money to bring results and the

highest efficiency. Through which employers will closely manage the quantity and

quality of their labor to pay for workers deserve.

- Function stimulate labor (economic leverage):

With an adequate salary will be motivated development production increased labor

productivity. When paid workers deserve to passionate, positive work, promoting thespirit of innovation, they will be inextricably linked their responsibilities to the benefit of

the business.

Thus, the prognosis is a tool to encourage physical stimulation employees work really

effective.

1.1.3.

Factors affecting salary:

Salary are not merely economic issues, problems, it also benefits the social issues directly

related to the macroeconomic policies of the State. Consequently, salary are affected by

many factors:

- Group of business factors: the policy of the business, financial capacity, organizational

structure, culture and atmosphere of the business ...

- Group elements of the labor market: supply and demand relationship in the market,

premises costs salaries, cost of living, national income, economic situation - the law ...


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- Group elements of the workers: the number - the quality of labor, seniority, work

experience and other relationships.

- Group elements of the work: labor wasted in the process of work, the labor intensity,

labor productivity ..

1.1.4.

The basic principles of salary:

Salary is formed on the basis of an agreement between the employee and the employer.

Wages in the labor contract must be greater than the minimum wage prescribed by the

State.

Workers are paid according to labor productivity, quality of labor and employment

outcomes

In the calculation and payment of wages must comply with the principles contained in

Article 8 of Decree No. 26 / CP of the Government dated 05.23.1995, namely:

- Do what works, what positions paid by the job, the position that, despite your age,irrespective of gender, ethnicity, religion is complete assigned work will be awarded

salary commensurate with the job. This is to ensure conditions for the distribution

according to labor, ensuring social justice.

- Ensure that the growth rate of labor productivity must increase faster than the average

wage. This is an important principle in the conduct of the business, by increasing labor

productivity is the basis for salary increases, increased profit is thoroughly implement the

above principles.

1.1.5.

Classify salary

Classify according to the form of payment

- Paid over time is a form of pay to employees based on work time according to rank,

position, area allowance, allowance prime red (if any) in accordance with the

provisions of the salary scale home country, according to Circular No. 07/2005 / TT-

MOLISA dated 01.05.2005 of the Ministry of Labour, Invalids and social Affairs

guiding the implementation of Decree 206/2004 / ND-CP dated 14/12/2004

Government regulations, labor, salary and enterprises income in the state.

Paid by product: A form of payment according to the quantity and quality of the

products they have made. Forms of payment according to the product can be made in

different ways depending on the characteristics and conditions of the manufacturing

enterprise.

- Paid by product: A form of payment according to the quantity and quality of the

products they have made. Forms of payment according to the product can be made in


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different ways depending on the characteristics and conditions of the manufacturing

enterprise.

- Pay by Product rewards apply to workers directly or indirectly for the purpose of

encouraging workers to increase productivity, save material. Enjoy complete plan and

product quality.

- Salary paid in the progressive: The salary paid by product directly associated with

progressive bonus rate according to the degree of completion for the count for each

person or group of workers. Also paid in the form of securities final product.

- Cash salaries workload salaries contracting is applicable to the amount of work or

the work should be completed within a certain time. When done this way Payroll Pay

attention to check the progress and quality of work completion and acceptance

especially for the basic construction work because of the hidden part of the collection

is the quantity of work completion will be difficult to detect.

1.2.

The form of salaries and wages in the enterprise

1.2.1.

Paid by time

Definition:

As the paid labor by time (days) reality and scale of wage workers. The salary is

determined based on the working time and technical qualifications of the employees.

To pay one time based on three factors:

- The actual date of the employee

- Unit cost of salary per day

- Coefficient of salary (hierarchy)

1.2.1.1.

Salary Calculation by time


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1.2.2.

Paid by Product

Definition:

A form of paid directly to employees based on the quantity and quality of products and

services that they completed.

1.3.

The salary deductions

1.3.1.

Social Insurance Fund

- Purpose:

Social Insurance Fund is established to create funding for employees in case of sickness,maternity, labor accidents, incapacity, retirement ... Depending on the financial

mechanism specifies that the management and social security funds may be used to

partially paid for the entire enterprise or agency responsible for managing authorities and

paying the case of pension, incapacity ... in the enterprise directly pay some cases of sick

leave, maternity, labor accidents. Enterprises must sum to spend on the settlement level.

- Sources:

Social insurance fund is formed by the setting up of shares included in the business of

manufacturing enterprises and deducted from the salary of workers according to

regulations.

1.3.2.

Health Insurance Fund

- Purpose:

Health insurance is established to cater for the protection and health care for workers

such as Health Care, hospital fees, medicine ...

- Sources:

Under the provisions of the current fiscal regime, the health insurance fund is formed by

the setting in the cost of production, business and industrial Designated deducted from

the wages of workers according to regulations.

1.3.3.

Trade union fees

- Purpose:

Trade union fees is established to cater for the operating expenses of the unions to take

care of and protect the rights of workers


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- Sources:

Trade union fees is formed by setting up and included in the cost of production and

business activities of enterprises according to the rate of 2%, of which 1% paid to union

agency superiors, 1% to the enterprise in order to expenditure for operations of union

office.

1.3.4.

The unemployment insurance fund

- Purpose:

The unemployment insurance fund is established to generate funds for employees in the

case of severance, unemployment and other cases

- Sources:

Unemployment is formed by the setting up setting up business in the cost and deducted

from the salary of employees

1.4.

The rate for payroll deduction

* Total percentage deductions: 32.5% of which: + 23% in the cost

+ 9.5% deducted from the employee salary

- For social insurance ratio of 24% of the total salary premiums for workers, including in

the cost of production and business of 17%, deducted from the salary of the month 7% of

workers

- For health insurance deductions rate 4.5% of the total salary premiums for employees,

which are included in production costs by 3% monthly profit, deduct 1.5% wage laborers.Health insurance is paid up specialized agencies in charge (in the form of health

insurance)

- For trade union fee: 2%, of which 1% paid to union agency superiors, 1% for the

companies to spend at the activities of the union office

- For unemployment insurance: 2% of which 1% in the cost of production and business,

1% deduction in salary workers

1.5.

Payroll salary and salary deduction

1.5.1.

Accounting vouchers

- Vouchers labor accounting:

+ Manual labor list

+ Table timekeeping, timesheet overtime

+ Certificate of products or work completed


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+ Securities Contracts

+ Liquidation reports acceptance package contracts

- Evidence from salary account:

+ Table payment of wages

+ Table paying overtime

+ Table outsourced payment+ Table bonus payments

+ The list of deductions for salary deductions

+ Table allocate wages and social insurance

1.5.2.

User account

To account salary and salary deductions, accounting using Account 334, Account 338

and the related accounts.

Account 334 - Payable to employees

* Content:

This account is used to reflect the situation in payables and payments payable toemployees of the company for wages, salaries, bonuses, insurance and other amounts

payable under the income workers.

* Structure:

- The Debt:

Reflections professional salary reduction during

+ The salaries, wages, bonuses wage nature, social security and the amounts paid, paid,

have advanced to employees

+ The salary deductions withheld from wages of workers in the period

- The non-debt: Reflecting the increased wages operations:

+ The salaries, wages, bonuses wage nature, and social security payable, payable toemployees

* Accounts level 2: Account 334 2 Level 2 account

- Account 3341: Payable to employees

- Account 3348: Payable to other workers

Account 338 - Other payables

* Content:

This account is used for payment of accounts payable, payable other content reflected in

account 331, 334, 336. This account is used to record unrealized revenue of the business

incurred during the accounting period.

* Structure:

- The Debt:

+ Social insurance to pay for employees

+ Trade union fees spending in units

+ Trade union fees, social insurance, health insurance, unemployment insurance filed

with the agency superiors

+ Amounts paid and filed in any other


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The non-debt:

+ Quote union funds, social insurance, health insurance, unemployment insurance payroll

deductions of employees

+ The budget overruns union shall be subsidized

+ The social insurance paid employees when social insurance agencies paid

+ The other payables in the period ...* Accounts Level 2: other payables 9 level 2 account

- Account 3381: Surplus assets pending

- Account 3382: Funding union

- Account 3383: Social Insurance

- Account 3384: Health Insurance

- Account 3385: Payable on equitization

- Account 3386: Get the deposit, short-term positive sign

- Account 3387: unrealized revenue

- Account 3388: payables, other payable

- Account 3389: Unemployment Insurance

1.6.

Accounting methods

1.6.1.

Accounting methods account 334

Account 111, 112 Account 622, 627, 641, 642, 623

Salary and allowances Salary and allowances

already paid payable to employees

Account 111, 112 Account 3383

Salary for employees Social Insurance

to advance (sickness allowance, miscarriage, ..)

Account 512 Account 353

Salary and bonuses for employees Bonuses for employees

by products and goods employees

Account 333 (33311) Account 335

Value added tax (if applicable) Salary actually paid leave

for workers

Account 334


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1.6.2. Accounting method account 338

Account 338

Account 111, 112 Account 622, 627, 641, 642

Salary and allowances The salary deductions (23%)

Already paid

Account 334 Account 334

Social Insurance Deductions

( 9.5%)


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2. Reality accounting salary and salary deductions of JSC Acitt

SAI GON

2.1. Introduction about JSC Acitt SAI GON

2.1.1. Some general information about the company:

Name: Joint Stock Company Acitt SAI GONAddress: P.2A4, Phuc Yen Building, 31 Phan Huy Ich, Ward 15, Tan Binh Dis, HCMC

Phone: 08. 62736448

Fax: 08. 22272427

Email:[email protected] registration certificate:

Tax Code:

Bank account:

Scope of business: ngnh ngh kinh doanh

2.1.2.

2.2.
mailto:[email protected]:[email protected]:[email protected]:[email protected]

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