Definitions of Profit-sharing

Definitions of Profit-sharing:

1. According to Prof. Henry Seager, “profit-sharing is an arrangement freely entered into by which the employee receives a share fixed in advance of the profits”
2. According to the ILO, “Profit-sharing is a method of industrial remuneration under an employer undertakes to pay to his employees, a share in the net profits of the enterprise in addition to their regular wages”