Companies Profits (Workers' Participation) Act, 1968
Tuesday, November 10, 2009
A company engaged in industrial undertaking is required to establish a Workers' Profit Participation Fund, if
- the number of workers employed at any time during a year is 50, or more or
- the paid up capital as on the last day of the accounting year is Rs. 2 million or more or
- the value of fixed assets as on the last day of the accounting year is Rs. 4 million or more,
Company is required to pay @ 5% of its profits every year. The workers' share in the fund depends on the category of his average monthly salary, subject to a maximum of Rs. 5,000.
Labels: WPPF
posted @ 5:33 PM,
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