REGULATIONS ON SALARY REPRESENTATION

Setting up a salary reserve fund is something that should be done in every business to limit risks. However, how to deduct, how to determine the level of deduction, not everyone knows. In the following article, QPT will help your business solve these questions.

1. Amount of deduction for salary reserve fund
According to Clause 2, Article 4 of Circular 96/2015/TT-BTC, the level of the deduction for setting up a salary reserve fund is as follows:

“2.6. Paying salaries, wages, and bonuses to employees in one of the following cases:
a) Paying salaries, wages, and other payables to employees, the enterprise has accounted for production and business expenses in the period but actually does not pay or does not have payment documents as prescribed by law. The law.
b) Wages and bonuses for employees are not specified in terms of eligibility and enjoyment level in one of the following documents: Labor contract; Collective labor agreement; Financial regulations of the Company, Corporation, Group; The bonus regulation is prescribed by the Chairman of the Board of Directors, the General Director, the Director according to the financial regulations of the Company and the Corporation (Content is amended by Clause 2, Article 3 of Circular 25/2018/TT-BTC)
– In case the enterprise signs a labor contract with a foreigner, which records the expenses for education for the children of foreigners studying in Vietnam at the level of education from preschool to high school, the enterprise shall pay The quality of wages and salaries and having sufficient invoices and vouchers as prescribed shall be included in deductible expenses when determining taxable incomes of enterprise income tax.
– In case the enterprise signs a labor contract with the employee, which records the payment of house rent paid by the enterprise to the employee, this payment is of salary and wage nature and has full invoices, documents according to regulations shall be included in deductible expenses when determining income subject to corporate income tax.
– In case a Vietnamese enterprise signs a contract with a foreign enterprise, clearly stating that the Vietnamese enterprise must bear the costs of accommodation for foreign experts during the working period in Vietnam, the house rent for Foreign experts working in Vietnam is paid for by Vietnamese enterprises are included in deductible expenses when determining taxable income.
c) Paying salaries, wages, and other allowances payable to employees but the time limit for submission of tax finalization dossiers for the year has not yet been paid unless the enterprise has set up a reserve fund to supplement the fund. Salary of the following year. The annual provision level is decided by the enterprise but must not exceed 17% of the salary fund.
Realized salary fund is the total actually paid salary of that settlement year by the prescribed deadline for submitting the final settlement dossier (excluding the amount of money set aside for the salary provision fund of the previous year for expenses in the tax year). 
The setting up of salary provision must ensure that after making the deduction, the enterprise does not suffer a loss, if the enterprise suffers a loss, it is not allowed to fully deduct 17%.
In case the enterprise has made a deduction for the salary provision fund in the previous year, but after 6 months from the end of the fiscal year, the enterprise has not used it or has not used up all the salary reserve fund, the enterprise must calculate the reduction in expenses. Of next year.”

=>The level of the deduction for setting up the salary reserve fund is specified as follow:
      – The level of setting up the salary reserve fund is decided by the enterprise itself, but not exceeding 17% of the salary fund
      – Realized salary fund is the total actually paid salary of that year of settlement by the deadline for submission of the finalization dossier and does not include the amount of money set aside for the previous year's reserve fund spent for finalization.
      – After setting up the salary reserve fund, the enterprise does not suffer a loss, if the enterprise suffers a loss, it cannot fully deduct 17%.
      – The salary reserve fund must be fully spent within 6 months after setting up.
      – If the enterprise has not used all of it, the enterprise must calculate the cost reduction of the following year.

2. How to account for setting up a salary reserve fund
– When making provision for other payables, the accountant's record:
Debit 6426 – Administration expenses
      Credit 3524 – Provision for payables

– When incurring expenses related to the provision for payables made, the accountant's record:
Debit 3524 – Provision for payables
      There are accounts 334…

– When preparing financial statements,the enterprise must determine the amount of provision for payables to be made:
+ In case the provision for payables needs to be made in this accounting period. Greater than the amount of provision for payables made in the previous accounting period but not yet used up. Then, the difference is recorded in expenses, the accountant will record:
Debit 6426 – Administration expenses 
      Credit 3524 – Provision for payables
+ In case the amount of provision for payable needs to be made in this accounting period. Smaller than the provision for payables made in the previous accounting period but not yet used up. Then, the difference is recorded as a decrease in expenses, the accountant will record:
Debit 3524 – Provision for payables
      Credit 3524 – Business administration expenses

3. Required documents
– Report to the Board of Directors on the issue of making provisions for the next year.
– Payment slip or decision of the Board of Directors on the provision.

Best regards !



Sign up to receive news

 
 

Related Posts

NHỮNG VƯỚNG MẮC VỀ KHAI THUẾ THEO THÔNG TƯ 80/2021/TT-BTC

Sáng ngày 17/02/2022, Tổng cục Thuế tổ chức chương trình hỗ trợ trực tuyến hướng dẫn kê khai…

BẢNG TRA CỨU LƯƠNG TỐI THIỂU VÙNG 2022 ÁP DỤNG TỪ 01/7/2022

Sau đây là Bảng tra cứu lương tối thiểu vùng 2022 tại 63 tỉnh thành phố theo Nghị định…

NOTICE OF LOCATION OF COMPANY LOCATION

THÔNG BÁO Về việc chuyển địa điểm văn phòng Công ty Kính gửi: - Quý Cơ quan chức…

Comment

45
Leave a Reply

avatar
2 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
0 Comment authors
Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
trackback

[…] Quy định mức trích lập quỹ dự phòng tiền lương   […]

trackback

[…] Beautiful Link Preview Plugin is disabled!Please enable it inside the settings of the plugin.Link: https://qpt.com.vn/quy-dinh-ve-trich-lap-du-phong-tien-luong/ Beautiful Link Preview Plugin is disabled!Please enable it inside the settings of the plugin.Link: […]

trackback

… [Trackback]

[…] There you will find 84550 more Infos: qpt.com.vn/en/quy-dinh-ve-trich-lap-du-phong-tien-luong/ […]

trackback

1indubitably

trackback

3suffered

trackback
trackback

dissertation writing fellowships https://helpwithdissertationwritinglondon.com/

trackback

phd dissertation editing help https://dissertationwritingcenter.com/

trackback

dissertation help online free https://dissertationhelpexpert.com/

trackback

dissertation proposal sample https://accountingdissertationhelp.com/

trackback

cheap dissertation help https://examplesofdissertation.com/

trackback

essay writing services 2019 https://writing-a-dissertation.net/

trackback
trackback

dissertation help articles https://businessdissertationhelp.com/

trackback
trackback
trackback
trackback

dissertation defense questions https://dissertationhelperhub.com/

trackback
trackback
trackback

real money online casino florida https://firstonlinecasino.org/

trackback

online casino free bet https://onlinecasinofortunes.com/

trackback

nj online casino promo code https://newlasvegascasinos.com/

trackback

online casino best payout https://trust-online-casino.com/

trackback

free casino online games https://onlinecasinosdirectory.org/

trackback

online casino bitcoin https://9lineslotscasino.com/

trackback

caesars online casino bonus code https://free-online-casinos.net/

trackback

mohegan sun online casino bonus code https://internet-casinos-online.net/

trackback

casino online bonus no deposit https://cybertimeonlinecasino.com/

trackback

betfair online casino https://1freeslotscasino.com/

trackback

lucky chances casino online https://vrgamescasino.com/

trackback

online casino win real money https://casino-online-roulette.com/

trackback

mohegan online casino https://casino-online-jackpot.com/

trackback

online betting casino https://onlineplayerscasino.com/

trackback

borgata online casino app https://ownonlinecasino.com/

trackback

casino spiele online spielen https://all-online-casino-games.com/

trackback

gta 5 online casino mystery prize how to claim https://casino8online.com/

trackback

vpn change location free https://freevpnconnection.com/

trackback

buy vpn router https://shiva-vpn.com/

trackback
trackback

nord vpn reviews https://imfreevpn.net/

trackback

express vpn free trial https://superfreevpn.net/

trackback

best free vpn download https://free-vpn-proxy.com/

trackback
en_US