Clarification of company’s social insurance accounts and how to distinguish between the company’s obligations and its share in social insurance.
Answer:
In social insurance, there are two types of accounts related to the company’s share:
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Current Liability Account (Liabilities):
This account contains the amount of the company’s obligation to the social insurance authority, and includes the insurance amount borne by the company in addition to the employee’s share. -
Social Insurance Expense Account:
This account shows only the amount borne by the company from the specified rate in social insurance, excluding the employee’s share.
