The top executives of Indian companies appear to be offered less remuneration than MNC’s, even after the companies are listed in BSE top 100 list.According to an analysis by Mint, Chief Executive Officers of Cummins India, Shriram Transport Finance and Federal Bank were among the least paid bosses at ₹24.5 lakh, ₹48.17 lakh and ₹84.99 lakh per annum, respectively. However, the top executives who were also the companies’ promoters were not included in the list.Cummins India’s chairman and managing director Anant J Talaulicar earned around ₹24.5 lakh in FY 2014, which is said to the least remuneration. Cummins is a corporation that designs, manufacture, distribute and service diesel and natural gas engines and related technologies.Shriram Transport Finance’s Managing director Umesh Revankar is the second least paid executive with an annual remuneration of ₹48.17 lakh in the financial year ended in March 2014.Federal Bank’s MD Shyam Srinivasan is in the third position who had an annual salary of ₹84.99 lakh.Of the 20 lowest paid CEOs, about 25% of them were from banks and financial institutions. Ironically, chief executives of banks earn the highest compensation all over.In 2012, The Reserve Bank of India published the guidelines on compensation of whole time directors and chief executive officers. The report said that the policy should cover all areas of compensation structure such as fixed pay, stock, pension plan and so on. The report also added that variable pay should not exceed 70% of the fixed pay in a year.”If you add the long-term incentives paid to bank executives, their compensation levels improve sharply to take them to the top bracket of pay in the country. About 70% of companies have long-term incentives by way of employee stock options or restricted stock units,” Anandorup Ghose, consulting practice leader at Aon Hewitt told Mint.Among the 100 companies included in the survey, salaries of top executives in India ranges from ₹24 lakh to ₹30 crore.Infosys CEO and MD Vishal Sikka, who was appointed in mid June this year, has been offered $5.08 million (₹30 crore) with an additional stock options worth $2 million as an annual compensation. Currently, he is the highest paid CEO of an Indian company.Besides Cummins, Shriram Transport Finance and Federal Bank, names of seven other companies with least paid remuneration to top executives are Sesa Sterlite, Ashok Leyland, Nestle India, Tech Mahindra, Tata Global Beverages, M & M Financials and ABB India.
At least four people were killed and 25 others injured in a road accident at Mokamtala in Shibganj upazila of Bogra district on early Wednesday.The deceased are Abdul Zabbar, 55, son of a certain Bhola Mia of Harirampur village in Shibganj, Ashraful Alam, 55, son of Bazlur Rahman of Kurigram, Ram Krisna, 38, of Pirgachha, Monowara Begum, 55, of Gangachara in Rangpur.Shibganj police station officer-in-charge Saif Mahmud said a Kurigram-bound bus from Dhaka hit a roadside tree as its driver lost control over the steering around 5:30am, leaving three passengers dead on the spot, reports UNB.Among the injured, a woman succumbed to her injuries at Gabindaganj Health Complex.Twelve other injured were taken to different local hospitals, the OC added.
Police in California on Saturday said three people were killed and four were injured in a shooting at a bowling alley near Los Angeles.Sergeant Ronald Harris of the Torrance Police Department confirmed to AFP that officers responded at 11:54 pm on Friday to reports of gunfire at Gable House Bowl.He added all seven victims were male. Three were pronounced dead at the scene, with two others taken to hospital.Witnesses told The Los Angeles Times there had been a fight at the gaming complex.In a tweet posted shortly after midnight, the Torrance Police Department had warned people to “please stay away from the area.”Torrance, a coastal city, is located around 20 miles (32 kilometers) southeast of downtown Los Angeles in the South Bay region.According to health authorities, nearly 40,000 people died in the United States as a result of firearms in 2017 — a figure that includes suicides.
On the occasion of Tatya Tope’s Martyr Day, Dr Mahesh Sharma, Minister of State for Culture and Tourism, released a commemorative coin of Rs 200 and a circulation coin of Rs 10 in the national Capital on Monday. Narendra Kumar Sinha, Secretary, Ministry of Culture was also present on the occasion.Ministry of Culture has been celebrating the 200th birth anniversary of Tatya Tope in the year 2015-16, in association with the State Government of Maharashtra and Madhya Pradesh. Also Read – ‘Playing Jojo was emotionally exhausting’The government of India is also considering the creation of infrastructure in the memory of Tatya Tope by constructing a Memorial at Yeola and Nasik, Maharashtra and a war museum at Bhopal, Madhya Pradesh in association with the respective State Governments.Recently, in the month of February, the State Government of Maharashtra organised the inaugural function at Shaniwar Wada in Pune. Before that, a three-day celebration- ‘Shaurya Mahotsav’ was held.Also, a special lecture and conference on Tatya Tope was organised by Nehru Memorial Museum & Library (NMML) in the national Capital on February 16. One of the most outstanding leaders of India’s first war of Independence, Tatya Tope was a patriot.
Bill.com Paying bills can be exceptionally time consuming for a small company. Which is why Hsu uses Bill.com as his accounts payable department, taking tedious tasks such as approvals and printing and mailing checks digital. He estimates that the app saves his clients four days a month and his company thousands of dollars a year, since they no longer need an accounts payable department. Convenience is another factor, since people don’t need to be physically available to sign a check or approve a payment. “One of our clients was trying to purchase a $50,000 media buy and couldn’t find [the company’s] owner,” Hsu says. “We finally located him on vacation, and he was able to approve the purchase from his smartphone while standing in line at Disneyland.” Register Now » Lyft. When Hsu headed out of the train station into the -2 degree weather, he was thrilled that he did not have to hail a cab or stand in a long taxi line. He had already used his Lyft app while on the train to call a cab, and it was waiting at the curb to take him to his hotel. “I travel a lot for business and constantly use this app to request the type of transportation that I need to be available when I need it,” Hsu says. “I can even set my preferences to include the type of music I want playing in the car.” Since his credit card is already stored in the app, the drive automatically bills him through the app and eliminates the scramble for cash if the cab’s credit card machine is broken. Free Webinar | Sept. 9: The Entrepreneur’s Playbook for Going Global Growing a business sometimes requires thinking outside the box. Line. Since both his family and some business clients are overseas, Hsu relies on the Line app, a tool that allows those with the app to make calls and send messages for free. “When I travel overseas, people can find me whether I am in Europe or Asia without worrying about the telephone network issues or fees,” Hsu says. “It really helps me stay connected no matter where I am.” He especially likes that the app was simple enough for his parents to master. Maybe too simple. His mom has started to use the app to send photos of products she can’t find in Asia for him bring from the States on his next visits. Michael Hsu likes to say that every number tells a story. Instead of starting a traditional accounting firm focusing on taxes and compliance, his firm, Deep Sky, helps businesses compile relevant data and use the story this information tells to make effective decisions for their company. “At the end of the month our clients can take a glance at a one page report to see what aspects of their business are currently working well, what areas need improvements and what changes to make,” Says Hsu.Of course this digital company is run with virtual offices. To keep up with clients and all ten of his employees across the United States, it’s essential that Hsu stay connected. He does that with the help of these three apps. Opinions expressed by Entrepreneur contributors are their own. May 8, 2014 3 min read