08-22-2009, 03:20 AM
Dear,
As per employment laws, one retirement benefit in shape of gratuity, provident fund (or pension) is required to be paid to employees. However, there are certain limits as to the number of employees for applying such requirements.
WWF, in other than PTR cases, is levied on taxable income @ 2 percent. In case of tax loss no WWF is charged.
In case of PTR cases 2 percent of accounting profit or 2 percent of 4 percent of turnover, whichever is higher (or lower; just forgot) is to be charged as WWF.
To my understanding in case of loss no WWF is to be paid even by the PTR cases.
Regards,
As per employment laws, one retirement benefit in shape of gratuity, provident fund (or pension) is required to be paid to employees. However, there are certain limits as to the number of employees for applying such requirements.
WWF, in other than PTR cases, is levied on taxable income @ 2 percent. In case of tax loss no WWF is charged.
In case of PTR cases 2 percent of accounting profit or 2 percent of 4 percent of turnover, whichever is higher (or lower; just forgot) is to be charged as WWF.
To my understanding in case of loss no WWF is to be paid even by the PTR cases.
Regards,
