12-27-2006, 11:25 PM
I am facing confusion in some areas of WPPF. Here I am explaining my confusion through example hope you will give answer of the questions below.
<b>Example</b>A Workersâ Profit Participation Fund received Rs 500,000 as WPPF from company
Fund received Rs. 30,000 Interest from company
Fund received Rs. 50,000 Interest on PLS account
<b>Questions</b>1. Should amount of interest (Rs. 30,000) distributed among workers and WWF?
2. If per worker entitlement is Rs. 6,000 and per head interest is Rs. 450. Will he received Rs.6,000 or Rs.6,450?
3. Should amount of interest on PLS distributed among workers and WWF?
4. If company paid amount of WPPF 15 day after the closing of books of account but before the completion of audit. Will Fund charge interest on delayed payment of 15 days?
5. For computing rate of interest, what bank rate taken into consideration?
<b>Example</b>A Workersâ Profit Participation Fund received Rs 500,000 as WPPF from company
Fund received Rs. 30,000 Interest from company
Fund received Rs. 50,000 Interest on PLS account
<b>Questions</b>1. Should amount of interest (Rs. 30,000) distributed among workers and WWF?
2. If per worker entitlement is Rs. 6,000 and per head interest is Rs. 450. Will he received Rs.6,000 or Rs.6,450?
3. Should amount of interest on PLS distributed among workers and WWF?
4. If company paid amount of WPPF 15 day after the closing of books of account but before the completion of audit. Will Fund charge interest on delayed payment of 15 days?
5. For computing rate of interest, what bank rate taken into consideration?