These participles, like all participles, can be paraphrased with который-clauses. Unlike the other participles they are rarely used, even in written style.
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The formation of the present passive participle (e.g. читђемый) differs from the formation of the past passive participle (e.g. прочќтанный) as follows:
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(1) It is formed on the present (i.e. non-past) stem of the verb rather than on the past stem. In fact, it looks just like the non-past мы-form (first person plural) plus the adjective ending: читђем-ый.
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(2) It is formed from Imperfective verbs rather than from Perfective verbs, and therefore has the meaning of on-going action or repeated actions rather than the single, completed action typical of a Perfective verb. Compare:
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present passive (Imperfective):
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кнќга, читђемая нђми
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the book being read by us
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кнќга, котћрую мІ читђем
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the book (which) we're reading
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past passive (Perfective):
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кнќга, прочќтанная нђми
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the book read by us
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кнќга, котћрую мІ прочитђли
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the book (which) we've read
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