ESAB offers a complete line of welding and cutting products and solutions. Explore our equipment offering with ease based on product line and industry.
ESAB is a world leader in welding and cutting equipment and consumables. Explore our complete line of welding & cutting products for virtually every application.
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ESAB University videos are curated with tips and best practices from top fabricators around the world. Learn new techniques or improve your current skills with ESAB University videos.
ESAB Courses are structured learning designed to help welders achieve certain learning milestones and explore topics more in-depth. Check back often for updated resources.
Enhance your knowledge of welding, cutting, and fabrication with free and accessible webinars on a variety of topics, including welding best practices, tips for using ESAB products, new product launches, and more, presented by trusted ESAB experts.
ESAB is a world leader in welding and cutting equipment and consumables. We offer a complete line of fabrication solutions for virtually every application.
ESAB Newsroom - Stay up to date with the latest news from ESAB. View press releases, product announcements, corporate news, and more here.
ESAB EHS (Environment, Health & Safety) initiatives are monitored with the highest degree of importance and commitment to safety is ingrained in our culture.
The history of ESAB is the History of Welding. Go here to view an interactive look at ESAB's history in shaping the future of innovation in welding, cutting, and fabrication.
ESAB is recognised for its adherence to the best industry practices and commitment to its employees and customers. Explore our list of prestigious awards that we have been honoured with!
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I. The Company's Remuneration Policy is aimed to attract and retain the best talents by ensuring a fair, transparent and equitable remuneration to employees and Directors, based inter alia on individual job requirements, responsibilities, commensurate qualifications of individuals, experience, the performance of the Company and the performance / contribution of the individual employee. The policy enables a framework that allows for fair rewards for the achievement of key deliverables, in line with industry and Group practice.
II. The Company follows a compensation mix of fixed and performance linked variable pay. Individual performance pay is measured through a structured and transparent appraisal process.
III. When determining the remuneration for the MD / ED / WTD the Company will take into account the market sector that it operates, business performance and the practices in other comparable Companiesincluding global companies when appropriate.
IV. The Company pays remuneration by way of Salary, Perquisitesand performance linked variable pay to its MD / ED / WTD, within the overall ceiling limits approved by the Shareholders of the Company, subject to the provisions of the Companies Act, 2013 and is effective 1stof January every year. The Nomination & Remuneration Committee recommends the performance linked variable pay, payable to the MD / ED/ WTD based on the profits for the financial year and as per the policy of the Group,based on the performance of the Company as well as that of the MD / ED / WTD and as prescribed under the Companies Act and within overall limits approved by the shareholders. The Board of Directors approves the variable pay payable for the year based on the recommendations of the Nomination & Remuneration Committee.
V. The Company also extends other perquisites as is applicable to the Senior Management Personnel of the Company and as per the Policy of the Company as may be approved by the Nomination & Remuneration Committee / Board of Directors from time to time.
The Company currently pays sitting fees for attending the meetings of the Board / Committees thereof, which includes Audit Committee / Nomination & Remuneration Committee / CSR Committee and Stakeholder's Relationship Committee. Any change in this fee would have to be approved by the Board of Directors within the limits and provisions of the Companies Act, 2013.
The Members had at the Annual General Meeting of the Company held on 27 April, 2011 approved the payment of Commission to Non-Executive Directors within the overall ceiling of 1% of the net profits of the Company as computed under the applicable provisions of the Companies Act. The actual commission payable is decided for the year by the Board of Directors,based on and guided by varying commitments of time, contribution and participation in various Committees.
The Company also reimburses the out-of-pocket expenses incurred by the Directors for attending the meetingsas and when applicable.
KMP as defined in the Companies Act, includes the Chief Financial Officer and the Company Secretary. The Senior Management Personnel are all those Executives who directly report to the MD / ED / WTD i.e. one level below the Board of Directors.The Compensation package to the KMPs and the SMPs will comprise:
This policy shall be effective 1st April, 2014.
Daniel A Pryor Chairman