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Integrated report Statutory reportS FInancIal StatementS
Board's Report

• the extent of overall remuneration should be sufficient • In addition to the basic/fixed salary, benefits,
to attract and retain talented and qualified individuals perquisites and allowances as provided above, the
suitable for every role. Hence remuneration should be - Company provides Md/eds such remuneration by
way of commission, calculated with reference to the
• Market competitive (market for every role is defined as
companies from which the company attracts talent or net profits of the Company in a particular financial
companies to which the company loses talent) year, as may be determined by the Board, subject to
the overall ceilings stipulated in Section 197 of the act.
• driven by the role played by the individual the specific amount payable to the Md/eds would be
• reflective of size of the company, complexity of based on performance as evaluated by the Board or the
the sector/industry/company’s operations and the nrC and approved by the Board.
company’s capacity to pay • the Company provides the rest of the employees a
• Consistent with recognised best practices and performance linked bonus. the performance linked
bonus would be driven by the outcome of the
• aligned to any regulatory requirements. performance appraisal process and the performance of
In terms of remuneration mix or composition the Company.
Remuneration payable to Directors for services
• the remuneration mix for the Md/eds is as per the u rendered in other capacity
contract approved by the shareholders. In case of any
change, the same would require the approval of the the remuneration payable to the directors shall be inclusive
shareholders. of any remuneration payable for services rendered by such
director in any other capacity unless:
• Basic/fixed salary is provided to all employees to ensure
that there is a steady income in line with their skills and (a) the services rendered are of a professional nature; and
experience.
(b) the nrC is of the opinion that the director possesses
• In addition to the basic/fixed salary, the Company requisite qualification for the practice of the profession.
provides employees with certain perquisites, allowances Policy implementation
and benefits to enable a certain level of lifestyle and to u
offer scope for savings and tax optimisation, where the nrC is responsible for recommending the remuneration
possible. the Company also provides all employees policy to the Board. the Board is responsible for approving
with a social security net (subject to limits) by covering and overseeing implementation of the remuneration policy.
medical expenses and hospitalisation through
re-imbursements or insurance cover and accidental On behalf of the Board of Directors
death and dismemberment through personal accident
insurance. Bhaskar Bhat R. Mukundan
Director Managing Director & CEO
• the Company provides retirement benefits as
applicable. Bengaluru, May 15, 2020 Mumbai, May 15, 2020

1 excludes employees covered by any long term settlements or specific term contracts. the remuneration for these employees would be
driven by the respective long term settlements or contracts.

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