Excerpt from Profit Sharing in the United States As to the meaning of the term profits in the definition of the congress, it was stated that profits should be understood as constituting the actual net balance or gain realized by the financial operations of the undertaking in relation to which the scheme exists. A share is stated by the same congress to be asum paid to the employee out of the profits. Amount of the share, it is further stated, must be dependent upon the amount of the profits. Another feature of profit ...
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Excerpt from Profit Sharing in the United States As to the meaning of the term profits in the definition of the congress, it was stated that profits should be understood as constituting the actual net balance or gain realized by the financial operations of the undertaking in relation to which the scheme exists. A share is stated by the same congress to be asum paid to the employee out of the profits. Amount of the share, it is further stated, must be dependent upon the amount of the profits. Another feature of profit sharing that received the careful attention of the congress was the provision, unanimously adopted, that the share received by the employee shall be fixed in advance. It is not necessary that the employee shall know all the details of the basis upon which the amount of his share will depend. It is essential, however, that the share to be given to the employee shall not be indeterminate, that is, it must not be a share which an employer fixes, at the end of some period, at his absolute discretion, as distinguished from a prearranged basis. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at ... This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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