The document contains declarations for an Employee Stock Ownership Plan (ESOP) case. It states that shares were issued to an Individual under an ESOP scheme according to Foreign Exchange Management Act rules. It requests crediting an inward remittance to the individual's account, and notes an annual return will be submitted to the Reserve Bank of India with details of remittances and beneficiaries per RBI guidelines, if applicable.
The document contains declarations for an Employee Stock Ownership Plan (ESOP) case. It states that shares were issued to an Individual under an ESOP scheme according to Foreign Exchange Management Act rules. It requests crediting an inward remittance to the individual's account, and notes an annual return will be submitted to the Reserve Bank of India with details of remittances and beneficiaries per RBI guidelines, if applicable.
The document contains declarations for an Employee Stock Ownership Plan (ESOP) case. It states that shares were issued to an Individual under an ESOP scheme according to Foreign Exchange Management Act rules. It requests crediting an inward remittance to the individual's account, and notes an annual return will be submitted to the Reserve Bank of India with details of remittances and beneficiaries per RBI guidelines, if applicable.
Declarations for ESOP related cases---for credit to
Individual A/c
Shares were issued to me by ……………………………………………………………….,INC under
ESOP scheme in accordance with the rules/regulations framed under FEMA, 1999. The shares are being purchased in open market which is in line with terms & conditions of the initial offer document.
You are requested to credit the inward remittance of …………………………………. In
my account number……………………………..
An annual return will be submitted by my employer to RBI through AD bank giving
detail of remittances/beneficiaries etc. as per RBI circular no.30 of 05.04.06, if applicable as per rules.
The shares under the ESOP Scheme are offered by the issuing company globally on a uniform basis.