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TMI BlogCertain queries regarding terms “remuneration” and “last employment held” and other matters connected therewith clarifiedX X X X Extracts X X X X X X X X Extracts X X X X ..... tain queries regarding terms "remuneration" and "last employment held" and other matters connected therewith clarified Many members of the Chamber have sought its advice on the information required to be disclosed in the Schedule annexed to the directors' report pursuant to the Particulars of Employees Rules. The matter was discussed by the company. Law Sub‑Committee of the Chamber and in c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns giving information not required by the law have been inserted, namely, column 5 (tax deducted at source) and column 6 (net remuneration after tax). Whilst disclosure of this additional information is recommended, members may choose, in appropriate circumstances, not to give this information. If there is any doubt, members are advised to consult their own legal advisers. PROFORMA* ............ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th the company's rules. Some employees are provided with free or subsidised accommodation on a furnished/ unfurnished basis. 3. The total remuneration for employees listed above would exceed Rs. 3,000 per month after including therein the perquisite value of items (1 and 2) above calculated in accordance with the Income-tax Rules. 4. All the employees have adequate experience to discharge the re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ad "Remuneration received" should be the amounts received by an employee in cash, i.e., salary, dearness allowance, bonus, commission paid in cash and house rent subsidy. Therefore, contribution to provident fund, gratuity fund, superannuation fund, etc., which are not received by the employee concerned in cash should be ignored. All perquisites in kind should also be ignored. 4. Column 5 will sh ..... X X X X Extracts X X X X X X X X Extracts X X X X
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