puruṣaḥ—the living entity; prakṛti-sthaḥ—being situated in the material energy; hi—certainly; bhuṅkte—enjoys; prakṛti-jān—produced by the material nature; guṇān—modes of nature; kāraṇam—cause; guṇa-saṅgaḥ—association with the modes of nature; asya—of the living entity; sat-asat—good and bad; yoni—species of life; janmasu—birth.
The living entity in material nature thus follows the ways of life, enjoying the three modes of nature. This is due to his association with that material nature. Thus he meets with good and evil amongst various species.
upadraṣṭā—overseer; anumantā—permitter; ca—also; bhartā—master; bhoktā—supreme enjoyer; maheśvaraḥ—the Supreme Lord; paramātmā—Supersoul; iti—also; ca—and; api uktaḥ—is said; dehe—in this body; asmin—this; puruṣaḥ—enjoyer; paraḥ—transcendental.
Yet in this body there is another, a transcendental enjoyer who is the Lord, the supreme proprietor, who exists as the overseer and permitter, and who is known as the Supersoul.
yaḥ—anyone; evam—thus; vetti—understands; puruṣam—the living entities; prakṛtim—material nature; ca—and; guṇaiḥ—modes of material nature; saha—with; sarvathā—by all means; vartamānaḥ—situated; api—in spite of; na—never; saḥ—he; bhūyaḥ—again; abhijāyate—takes his birth.