Rule 5: Disclosure in Board’s report

Rule 5: Disclosure in Board’s report · Complied AI

(3)

The statement referred to in sub-rule (2) shall also indicate –

(i)

designation of the employee;

(ii)

remuneration received;

(iii)

nature of employment, whether contractual or otherwise;

(iv)

qualifications and experience of the employee;

(v)

date of commencement of employment;

(vi)

the age of such employee;

(vii)

the last employment held by such employee before joining the company;

(viii)

the percentage of equity shares held by the employee in the company within the meaning of clause (iii) of sub-rule (2) above; and

(ix)

whether any such employee is a relative of any director or manager of the company and if so, name of such director or manager:

Proviso

Provided that the particulars of employees posted and working in a country outside India, not being directors or their relatives, drawing more than sixty lakh rupees per financial year or five lakh rupees per month, as the case may be, as may be decided by the Board, shall not be circulated to the members in the Board’s report, but such particulars shall be filed with the Registrar of Companies while filing the financial statement and Board Reports:

Proviso

Provided further that such particulars shall be made available to any shareholder on a specific request made by him in writing before the date of such Annual General Meeting wherein financial statements for the relevant financial year are proposed to be adopted by shareholders and such particulars shall be made available by the company within three days from the date of receipt of such request from shareholders:

Proviso

Provided also that in case of request received even after the date of completion of Annual General Meeting, such particulars shall be made available to the shareholders within seven days from the date of receipt of such request.

(v)

the explanation on the relationship between average increase in remuneration and company performance;

(vi)

comparison of the remuneration of the Key Managerial Personnel against the performance of the company;

(vii)

variations in the market capitalisation of the company, price earnings ratio as at the closing date of the current financial year and previous financial year and percentage increase over decrease in the market quotations of the shares of the company in comparison to the rate at which the company came out with the last public offer in case of listed companies, and in case of unlisted companies, the variations in the net worth of the company as at the close of the current financial year and previous financial year; Omitted vide Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules notification date d 30.06.2016.To view the notification, Click Here

(ix)

comparison of the each remuneration of the Key Managerial Personnel against the performance of the company; Omitted vide Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules notification dated 30.06.2016.To view the notification, Click Here

(xi)

the ratio of the remuneration of the highest paid director to that of the employees who are not directors but receive remuneration in excess of the highest paid director during the year; Omitted vide Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules notification dated 30.06.2016.To view the notification, Click Here