FTN’s of Government Departments as Employers

  FTN Name Province 9010000-0 FEDERAL GOVERNMENT Federal 9010100-6 CABINET DIVISION Federal 9010102-2 DEPARTMENT OF COMMUNICATION SECURITY Federal 9010103-7 FEDERAL LAND COMMISSION Federal 9010105-7 INTELLIGENCE BUREAU Federal 9010106-5 NATIONAL ACCOUNTABILITY BUREAU Federal 9010107-3 NATIONAL ARCHIVES OF PAKISTAN Federal 9010108-1 NATIONAL COMMISSION FOR HUMAN DEVELOPMENT Federal 9010109-0 NATIONAL DOCUMENT CENTER Federal 9010110-3 NATIONAL ELECTRIC POWER REGULATORY … Read more FTN’s of Government Departments as Employers

How to Register a business in Pakistan?

Business Registration in Pakistan

Business Registration in Pakistan Before starting any business required registration and mostly newbies lost their energy and passion during this hectic process. For this reason, OLY Consultant came into the market with a new concept of Corporate Business Shop. CBS is a concept to assist business community in establishing their own business across Pakistan. There … Read more How to Register a business in Pakistan?

SBP re-launches SMS service for new currency notes

Pakistani Currency

State BANK SMS Service The State Bank of Pakistan (SBP) has re-launched SMS service for the issuance of fresh currency notes to the public. The distribution will be made through the SBP’s subsidiary, the SBP Banking Services Corporation (SBP BSC). The fresh notes will be available from designated commercial bank branches called “e-branches” and the … Read more SBP re-launches SMS service for new currency notes

Company Registration in Islamabad

Company Registration in Islambad

How to Register a Company in Islamabad – Pakistan Islamabad is capital of Pakistan; it is among the top ten most beautiful cities of the world. It is the financial and investment hub of Pakistan.Highest per capital income, developed infrastructure, largest population, strategic location and many other factors have and made the city most attractive … Read more Company Registration in Islamabad

Step by Step Process of Company Registration in Islamabad

Islamabad is capital of Pakistan; it is among the top ten most beautiful cities of the world. It is the financial and investment hub of Pakistan. CEPEC is further increasing the investment opportunities in the city. Both foreign and domestic investment of millions of dollars made every year. Highest per capital income, developed infrastructure, largest … Read more Step by Step Process of Company Registration in Islamabad

Company Registration in Pakistan

Company Registration in Pakistan

How to Register a Company in Pakistan Every entrepreneur has a dream to become a successful business man. Unique characteristics of company form of organization, e.g. perpetual succession, limited liability, separate legal status, transferability of  shares etc, safeguard personal properties of  shareholders or directors and enhance the confidence of all stakeholders on the company . … Read more Company Registration in Pakistan

Foreign Direct Investment and wholly Owned subsidiary of Foreign Company

Foreign Direct Investment in Pakistan

Foreign Company Registration in Pakistan A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country (i.e. Pakistan) by an entity based in another country. It is thus distinguished from foreign portfolio investment by a notion of direct control. In foreign portfolio investments an investor merely purchases equities of foreign-based companies. Broadly, foreign direct investment … Read more Foreign Direct Investment and wholly Owned subsidiary of Foreign Company

Step by Step Process for Registration of Foreign Company (Wholly Owned subsidiary)

Foreign Company Registration in Pakistan

A Wholly Owned Subsidiary Company is an entity of which 100% shares are held by another company. When foreign company makes 100% FDI (Foreign Direct Investment) in Pakistan, the Pakistani company becomes the Wholly Owned Subsidiary of that Foreign Company. A Wholly Owned Subsidiary of Foreign Company can be defined as an entity whose entire … Read more Step by Step Process for Registration of Foreign Company (Wholly Owned subsidiary)

Provident Fund Accounting – Accounts Management

Outsource Accounts

In provident fund employer and employee contribute a specific amount and at the end of employment accumulated amount, sum of employer and employee contribution, is paid to employee. Suppose total salary (inclusive of all ):10,500, employee PF contribution:500 Employer’s contribution: 500 Entry will be Salary A/c  (10,500)———————-Dr. Employer’s contribution A/c 500——Dr. To Provident Fund Payable … Read more Provident Fund Accounting – Accounts Management

Accounting Outsourcing: A Cost Cutting Strategy

Outsource Accounts

 Running or growing a business is tough because of burden of administration and accounting cost. A best solution to reduce the accounting cost is to outrace accounting function. Accounting outsourcing requires a business to do work of record maintenance only, which does not require any specialized accounting skill. Ever-changing tax laws have also made it … Read more Accounting Outsourcing: A Cost Cutting Strategy