The Audit Procedures of WPPF & WWF

-According to Worker’s Welfare Fund Ordinance, 1971, every industrial establishment shall contribute to Worker’s Welfare Fund an amount equal to two percent (2%) of total income provided that total income for that year is not less than 5 lac rupees (500,000).

– According to the Companies Profits (Workers’ Participation) Act, 1968, every company is required to pay five percent (5%) of its profits to Worker’s Participation Fund every year. However, there was some confusion about whether such an amount should be calculated before charging such WPPF or after WPPF.