On an employee payslip PAYE and UIF are being deducted as well as an UIF company contribution.
The payslip is as follow: -
This payslip indicates that PAYE and UIF are being deducted from the employee to pay over to the Revenue Services and the Department of Labour.
In addition to this the payslip also reflects an UIF amount (Company Contribution) the company must pay over to the Dept of Labour.
In looking at the Income statement as follow: -
The PAYE and Employee UIF reflects in brackets.
In other words only the nett salary and the UIF Company contribution is reflecting as expenses.
In looking at the Balance Sheet: -
I only see the nett salary and the UIF Company Contribution as liabilities. What happened to the PAYE and Employee UIF