01-22-2010, 05:38 PM
Dear
To understand this issue, you need to study the relevant laws that are Pakistan specific. These are
- WORKERS' WELFARE FUND ACT, 1971; and
- WORKERS' PROFITS PARTICIPATION ACT, 1968
Once you have gone through these acts; and related rules (in case of WPPF), you would be able to understand the issue.
People now practically are ignoring Share of Profit in Associates while determining these charges to their net profits. They are deducting Share of Profit from Associates from net profit and addding Dividends received from such assoociates for ariving at the figure of net profit on which such charges have to be calculated.
Regards,
KAMRAN.
To understand this issue, you need to study the relevant laws that are Pakistan specific. These are
- WORKERS' WELFARE FUND ACT, 1971; and
- WORKERS' PROFITS PARTICIPATION ACT, 1968
Once you have gone through these acts; and related rules (in case of WPPF), you would be able to understand the issue.
People now practically are ignoring Share of Profit in Associates while determining these charges to their net profits. They are deducting Share of Profit from Associates from net profit and addding Dividends received from such assoociates for ariving at the figure of net profit on which such charges have to be calculated.
Regards,
KAMRAN.
