Page 256 - Pakistan Oilfield Limited - Annual Report 2022

254
PAKISTAN OILFIELDS LIMITED

Notes to and Forming Part of the -
Consolidated Financial Statements

For the year ended June 30, 2022

Basis of
Relationship 2022 2021
Rupees ('000)

Other related parties
Remuneration of Chief Executive, Directors 163,654 149,115
Honorarium & Key Management personnel
including benefits & perquisites

Dividend paid to key management personnel 164,568 158,567

Contribution to staff retirement benefits plans
Management Staff Pension Fund and Gratuity Fund 91,399 86,631
Approved Contributory Provident Funds 31,873 31,262
Contribution to Workers' Profit Participation Fund 1,559,617 1,169,275

42.2 Associated Companies incorporated outside Pakistan with whom the Group had entered
into transaction or had agreements are as follows:

i) Name of undertaking The Attock Oil Company Limited
ii) Country of Incorporation United Kingdom
iii) Basis of association Parent Company
iv) Aggregate %age of shareholding 52.77%
43. CONTRIBUTORY PROVIDENT FUND

Investments out of provident fund have been made in accordance with the provisions of section
218 of the Companies Act, 2017 and the rules formulated for the purpose.