Page 74 - Kolte Patil AR 2019-20

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
future.
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.

72 | Kolte-Patil Developers Limited