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of <h1>Corporate Chamber Clarifies Employee Remuneration Disclosure in Directors' Reports per Companies Rules 1975; Excludes Non-Cash Benefits.</h1> The circular issued by a corporate chamber addresses queries regarding the disclosure of employee remuneration in directors' reports, as required by the Companies (Particulars of Employees) Rules, 1975. It clarifies that only cash payments, such as salary and bonuses, should be reported under 'Remuneration received,' excluding non-cash benefits like provident fund contributions. A proforma schedule and instructions are provided, including optional columns for tax deductions and net remuneration. Members are advised to consult legal advisers if needed. The document also outlines conditions for employee inclusion based on total remuneration, and notes on employment benefits and relationships with directors.
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