The nephron is the regulatory unit in the kidney. The main processes of urine formation including filtration, reabsorption and secretion occur within the nephron.
Filtration occurs in the glomerulus whereby substances areseparated due to size. High blood pressure in the glomerulus forces small molecules to be passed through into the Bowman's Capsule (i.e. Glucose, Amino Acids, Ions, Water, Salts, Urea, etc) leaving large molecules such as protein and red blood cells.
The composition of the glomerular filtrate varies as it flows throughout the nephron whereby the substances that are essential for the body are reabsorbed (such as glucose, amino acids and salts) so they are not lost through the urine. Henceforth, those substances that are not reabsorved are those not useful for the body and even toxic for some (e.g. urea and excess water and salts).
EXTRA : /Water is reabsorbed in the descending limb of the loop of Henle and the collecting duct and salts are reabsorbed in the proximal tubule, the distal tubule and the ascending limb as their reabsorption is regulated by the hormones ADH and aldosterone respectively./
Therefore filtration and reabsorption regulate body fluid composition by getting rid of waste products such as urea and excess salts and reabsorbing those that are useful and essential to the body's functioning through metabolism. eg. glucose into the bloodstream.