Page 74 - Kolte Patil AR 2019-20
P. 74

POLICY RELATING TO REMUNERATION OF DIRECTORS, KMP     and incentive pay, where applicable, reflecting short and long
          & SENIOR MANAGEMENT PERSONNEL:                        term performance objectives appropriate to the Company’s
          •   To ensure that the level and components of remuneration   working and goals.
             is reasonable and sufficient to attract, retain and motivate   •   Other criteria are also to be considered such as responsibilities
             Directors, KMP and other employees of the quality required to   and duties; time & effort devoted; value addition; profitability
             run the Company successfully.                      of the Company & growth of its business; analyzing each and
          •   No director/Key Managers of Personnel/ other employee shall   every position and skills for fixing the remuneration yardstick;
             be involved in deciding his or her own remuneration.  standard for certain functions where there is a scarcity of
          •   The trend prevalent in the industry, nature and size of business   qualified resources; ensuring tax efficient  remuneration
             is kept in view and given due weight age to arrive at a   structures; ensuring that remuneration structure is simple and
             competitive quantum of remuneration.               that the cost to the Company (CTC) is not shown inflated and
                                                                the effective take home remuneration is not low.
          •   It  is  to  be  ensured  that  relationship  of  remuneration  to  the
             performance is clear and meets appropriate performance   •   Consistent application of remuneration parameters across the
             benchmarks which are  unambiguously  laid  down  and   organisation.
             communicated from time to time.                 •   Provisions of law with regard making payment of remuneration,
          •   Improved performance should be rewarded by increase in   as may be applicable, are complied.
             remuneration  and  suitable  authority  for  value  addition  in   REVIEW
                                                             The policy shall be reviewed by the Nomination & Remuneration
          •   Remuneration packages should strike a balance between fixed   Committee and the Board, from time to time as may be necessary.

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