On account of the rapidly changing environment, the well-being and quality of life among individuals becomes a major point of concern. Therefore, this study seeks to analyze the influencing factors namely community identification, cognitive social capital and family social capital in the way of life satisfaction and depressive symptoms among individuals of Pakistan. The collection of primary data is carried out from 152 people residing in Pakistan via only survey questionnaire form. PLS-SEM technique is utilized for the analysis of data for developed hypotheses. The findings of this study show that cognitive social capital and family social capital are positively impacted by community identification. Cognitive social capital reflects a positive and significant association with life satisfaction. For depressive symptoms, cognitive and family social capital both reflect negative but insignificant relationships with depressive symptoms. However, family social capital reveals a negative but significant influence on life satisfaction. Our findings can aid government bodies, social agencies, NGOs and community workers for enhancing the well-being of individuals. The study provides insights about social capital for better quality of life and reduction of poverty and depression among societal members. This paper also contributes literature by endorsing a conceptual framework aligned with social capital theory. Additionally, the study faces certain limitations which are represented as future recommendations to future scholars.