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Directors' remuneration and bonuses should be disclosed to promote transparency and accountability within a company, ensuring that stakeholders, including shareholders and employees, can understand how executive compensation aligns with company performance. Disclosure helps to mitigate potential conflicts of interest and excessive risk-taking by directors, fostering trust among investors and the public. Additionally, it allows for better corporate governance, as stakeholders can assess whether compensation packages are justified and in line with industry standards.
What else can I help you with?
When a portion of inventories has been pledged as security on a loan?
the fact should be disclosed(notes) but the amount of current assets should not be affected
Who should be responsible for signing checks for a non-profit organization?
The board of directors or a designated officer should be responsible for signing checks for a non-profit organization.
How should companies pay bonuses to team members?
Companies should consider a performance-based approach to paying bonuses, linking them to individual, team, or company-wide achievements. Transparency in the criteria used for determining bonuses is essential to motivate employees and foster trust. Additionally, offering a mix of monetary and non-monetary rewards can cater to different employee preferences, enhancing overall satisfaction and retention. Regular feedback and communication about bonus structures can further improve engagement and alignment with company goals.
Can you 1099 an employee for a bonus?
No, you cannot issue a 1099 to an employee for a bonus. Bonuses are considered taxable income and should be reported on the employee's W-2 form, not on a 1099 form.
Should employees salary kept confidential?
Yes, employee salaries should remain confidential. When salaries are disclosed, it can create conflict in the workplace when one employee is getting paid less for doing the same job as another.
Why is it necessary for for directors remuneration and bonuses to be disclosed in financial statements?
According to King Code III chapter 2 paragraph 180 requires that companies should disclose the remuneration of each individual directors and certain senior executives
Does non-profit pay the directors?
Non profits do not, generally, pay the Board of Directors which are volunteer positions. There are certain cases, such as private foundation, in which Board members may be paid. Executive Directors, as staff, are paid positions.
What is the eligibility Criteria for Section 8 Company Registration?
Following is the eligibility criteria for Section 8 Company Registration in India: At least 1 Director is required and he or she should be a resident of {cityName} At least 1 Director is required and he or she should be a resident of India HUF, an individual is eligible to commence a Section 8 Company in {cityName} HUF, an individual is eligible to commence a Section 8 Company in India The objective of the Company should be one or more of the following – the advancement of science & art, social welfare, promotion of sports/arts, and financial support to lower-income groups The objective of the Company should be one or more of the following – the advancement of science & art, social welfare, promotion of sports/arts, and financial support to lower-income groups 2 or more individuals who will act as Directors/Shareholders should fulfill all the compliance & requirements of the Section 8 Company Registration under the Companies Act 2 or more individuals who will act as Directors/Shareholders should fulfill all the compliance & requirements of the Section 8 Company Registration under the Companies Act Directors, founders, and Members Directors of the Company cannot draw any remuneration in any form of cash or kind Directors, founders, and Members Directors of the Company cannot draw any remuneration in any form of cash or kind No profit should be shared or distributed among the Directors & members of the Company indirectly/directly No profit should be shared or distributed among the Directors & members of the Company indirectly/directly
What is the Eligibility Criteria for Section 8 Company Registration in India?
Following is the eligibility criteria for Section 8 Company Registration in India: At least 1 Director is required and he or she should be a resident of {cityName} At least 1 Director is required and he or she should be a resident of India HUF, an individual is eligible to commence a Section 8 Company in {cityName} HUF, an individual is eligible to commence a Section 8 Company in India The objective of the Company should be one or more of the following – the advancement of science & art, social welfare, promotion of sports/arts, and financial support to lower-income groups The objective of the Company should be one or more of the following – the advancement of science & art, social welfare, promotion of sports/arts, and financial support to lower-income groups 2 or more individuals who will act as Directors/Shareholders should fulfill all the compliance & requirements of the Section 8 Company Registration under the Companies Act 2 or more individuals who will act as Directors/Shareholders should fulfill all the compliance & requirements of the Section 8 Company Registration under the Companies Act Directors, founders, and Members Directors of the Company cannot draw any remuneration in any form of cash or kind Directors, founders, and Members Directors of the Company cannot draw any remuneration in any form of cash or kind No profit should be shared or distributed among the Directors & members of the Company indirectly/directly No profit should be shared or distributed among the Directors & members of the Company indirectly/directly
Are there bonuses at Lowes?
Yes, Lowe's offers various bonuses and incentive programs for employees, including performance-based bonuses and seasonal incentives. The specifics can vary by position and location, and they may include referral bonuses, holiday bonuses, or other rewards for meeting certain performance metrics. Employees should check with their management or human resources for details about available bonuses.
Who should I contact to speak with the directors of the company?
To speak with the directors of the company, you should contact the company's executive office or the corporate communications department.
Should company directors attend an AGM?
Yes, all company Non-executive Directors can attend the AGM.
Should CEO'S stay in financial companies and still earned over million dollar bonuses?
yes They deserve their bonuses. They what make the companies thrive in the first place.
What does a board of directors do?
They oversee a company and answer to stock holders. The board of directors provides the company with direction and advice. It is the responsibility of the board of directors to ensure that the company fulfills its mission statement. In doing so, the board of directors frequently sets the company's policy objectives. A good board of directors should include knowledgeable and experienced business people. From: http:/www.wisegeek.com/what-does-a-board-of-directors-do.htm A board of directors should NOT be made up of friends and relatives; one or two members can be friends or acquaintances if they are business people or experienced board members.
What are the key feature of effective boards of directors?
Effective board of directors should have many traits. Knowledge of the company, an understanding of policies, and the ability to listen to problems that may have to be addressed are key qualities of a member of a board of directors.
Who decides how profits should be spent in a corporation?
Ultimately, the Board of Directors decides how profits should be spent in a corporation.
Indian companies act 1956 with respect of directors in the company?
PROVISIONS OF COMPANIES ACT 1956 (herein referred to as "Act") WITH RESPECT TO CORPORATE GOVERNANCE Disclosures on Remuneration of Directors: The specific disclosures on the remuneration of directors regarding all elements of remuneration package of all the directors should be made as a part of Corporate Governance. Section 299 of the Act requires every director of a company to make disclosure, at the Board meeting, of the nature of his concern or interest in a contract or arrangement (present or proposed) entered by or on behalf of the company. The company is also required to record such transactions in the Register of Contract under section 301 of the Act. Requirements of the Audit Committee: Audit Committee has a critical role to play in ensuring the integrity of financial management of the company. This Committee add assurance to the shareholders that the auditors, who act on their behalf, are in a position to safeguard their interests. Besides the requirements of Clause 49, section 292A of the Act requires every public having paid up capital of Rs 5 crores or more shall constitute a committee of the board to be known as Audit Committee. As per the Act, the committee shall consist of at least three directors, two-third of the total strength shall be directors other than managing or whole time directors. The Annual Report of the company shall disclose the composition of the Audit Committee. The recommendations of the committee on any matter relating to financial management including Audit Report, shall be binding on the board. In case board does not accept the recommendations so made, the committee shall record the reasons thereof, which should be communicated to the shareholders, probably through the Corporate Governance Report. The committee shall act in accordance with the terms of reference to be specified in writing by the board. The committee should have periodic discussions with the auditors about the Internal Control Systems and the scope of audit including the observations of the auditors. If the default is made in complying with the said provision of the Act, then the company and every officer in default shall be punishable with imprisonment for a term extending to a year or with fine up to Rs 50000 or both. Director's remuneration: Section 309(1) of the Act requires that the remuneration payable both to the executive as well as non-executive directors is required to be determined by the board in accordance with and subject to the provisions of section 198 either by the articles of the company or by resolution or if the articles so require, by a special resolution, passed by the company in a general meeting. Further, Schedule VI of the Act requires disclosure of Director's remuneration and computation of net profits for that purpose. Corporate Democracy: Wider participation by the shareholders in the decision making process is a pre-condition for democratizing corporate bodies. Due to geographical distance or other practical problems, a substantially large number of shareholders cannot attend the general meetings. To overcome these obstacles and pave way for introduction of real corporate democracy, section 192A of the Act and the Companies (Passing of Resolution by Postal Ballot), Rulesprovides for certain resolutions to be approved and passed by the shareholders through postal ballots. for further querry you are wwelcome to sachinmaurya@gmail.com
