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Employees, information regarding

This definition is supplied as a historical reference.

The limited information regarding numbers and remuneration of employees which the UK 1967 Companies Act required to be given in the directors’ report or in notes to the annual accounts themselves was extended by the 1981 Companies Act, which required the information to be given in the notes to the accounts and not in the directors’ report.

It remains necessary to provide details of the number of employees earning over £30,000, giving totals in each bracket of £5,000 over that minimum. In addition, the accounts or notes to the accounts must now give details of both the total number of employees, dividing them into categories, and the total payments to those employees, distinguishing between (1) wages and salaries, (2) social security payments and (3) pension payments or payments towards pension schemes. The accounts, or notes thereto, must also give details of loans to employees for the purpose of acquiring shares in the company.

Reference: The Penguin Business Dictionary, 3rd edt.