Provident Fund Accounting

Provident Fund Accounting 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) is Rs.10,500 employee PF contribution:500 Employer’s contribution: 500 Entry will be Salary   10,500————————–Dr. Employer’s contribution  500———Dr. To Provident … Read more

Cash Salary Limit

Cash Salary As per income tax ordinance, 1984, salary up-to Rs. 15,000 can be paid in cash. Any amount, for payment of salary, exceeding 15,000 shall must be paid through crossed cheque or direct bank transfer. If a business pays salary in cash to any employee, exceeding the prescribed limit then such expense shall be … Read more

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

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

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

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

Company Registration in Gwadar

Company Registration Gwadar

With the advancement of technology, distances squeezed and now many things become possible which was considered impossible. One of them is outsourcing of business which emerged as a new sector recently. From Conglomerates to SME’s, majority of successfully companies/businesses are emphasizing on outsourcing of their departments to external vendors. In which one of them is … Read more

SECP – Name Availability for Company Registration

SECP offers online/offline name availability option to all participants who want to register company in Pakistan. SECP is Government institution who deals in all corporate matters including company registration. In first step you reserve company name: E.g. KK Consultant (SMC-PVT) Limited. SMC stands for Single Member Company. Now a single person can also be able … Read more

Company Registration office in Quetta

Dear readers, Are you searching a consultant who assist you in completing your documents for registering a company. Then you reached at a right place. Oly consultant is highly reputable and renowned consultancy firm whose clients across the Pakistan. For registering a company from SECP (Securities and Exchange commission of Pakistan), you need a consultant … Read more