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...
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...
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...
Foreign Direct Investment and wholly Owned subsidiary of Foreign Company
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...
Step by Step Process for Registration of Foreign Company (Wholly Owned subsidiary)
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...
Provident Fund Accounting – Accounts Management
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...
Accounting Outsourcing: A Cost Cutting Strategy
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...
Company Registration in 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...
SECP – Company Registration in Rawalpindi
OLY Consultant assist you in registration process of securities and exchange commision of Pakistan. SECP offers two ways to register a company: Online Offline In first pace, you decide which method is more convenient for you. Once you finalized then initialize the process as per the guidance of rules and...
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...