The remuneration of the Managing Director and Joint Managing Directors is recommended by the Remuneration Committee based on criteria such as industry benchmarks, the company’s performance vis-à-vis the industry, responsibilities shouldered, performance/track record, macroeconomic review on remuneration packages of heads of other organizations, etc., and is decided by the committee members.
Remuneration of Non-Executive Directors
The Non-Executive Directors do not receive any remuneration from the company, apart from the sitting fees.
Remuneration of employees largely consists of basic remuneration, perquisites, allowances and performance incentives.
The components of total remuneration vary for different grades of employees and are governed by industry patterns, qualifications and experience of the employee, responsibilities handled by him, his individual performance, etc. The annual variable pay of senior managers is linked to the company’s performance in general and their individual performance for the relevant year is measured against specific major performance areas, which are closely aligned to the company’s objectives.
|Name of Person||Designation|
|Sri. Balarama Govinda Das||Chairman|
|Sri. Ba. Ramesh||Member|
|Sri. Ba. Kumar||Member|