Sad to see Ambanis and Adanis missing from the list... we need such donations to make our country better and govt should exempt these people from taxes etc to encourage more...
Corporates whose top executives hold appreciable shares in the companies must be totally exempted from paying income taxes as an incentive for funding charitable work. India's population is about six times that of the US but the total revenues of even the top say 100 corporate groups is likely to be just a fraction of the top 100 in the US whose leading business leaders like like Microsoft 's Bill Gates or WarrennBuffett now contribute significant amounts in charity at a global level and to an extent that can significantly impact the levels of poverty alleviation, education, disease fighting, etc. in order to enable our business leaders government must come up with bold incentive plans like tax exemption. After all it is clear that a very large part of government revenues is wasted on a largely lethargic, inefficient, even highly corrupt (in several areas) administrative machinery and pensioner population which is a very unconscionable feature of our government organisation and structure.
They do not pay good salary for their employee. they will make employee work more than 12 hrs . Most of them will not share the profit. Most of them have big number of contract employees. the contact employees are paid very less. With all employees hard work and flood, they make 30% to 40% profit margin and they setup their own charity organization in their own name. I have never understood about this puzzling logic. It is pure capitilisem. i am not here talking communilisem
Re: Any reason Why they do not share their profit or pay good sal
by Rythm on Oct 26, 2014 08:50 AM
Businesses need to run like businesses. Expenses need to be curbed. Which means employee salaries will be according to market rates. What the business earns after taxes, is left to the business owner to decide.
Re: Any reason Why they do not share their profit or pay good sal
by Rythm on Oct 26, 2014 08:53 AM
Employees do not deserve any share from profit, since they have not invested their money in the business, not shared the pains of entrepreneurship, not shared the losses, not invested in ideas, not there where owners were going through during starting phase. Employees deserve salaries only. Anything else other than salary is up to the business owner.
States like WB & Kerela have communist minded people who have shut down industries because of their stupidity, because of strikes. Why strike? Dont like what is being given? Leave the company. No employee has the right to strike
That is good. But I suggest that these philanthropists establish or sponsor good universities and research centres with endowments for fellowships and scholarships as is done in USA. That will help the country progress.
Re: donations
by Ravi on Oct 25, 2014 01:55 PM
Bad suggestion.
Charity is meant to help the poor and unfortunate people of society. Not meant for scholarships and fellowships. Education doesn't help the masses in the society. It only benefits few individuals.
Why do you think great businessmen like Bill Gates are donating for polio vaccines around the globe as an example.
Except for Bill Gates Foundation I don't see any of these other charity money being put to actual use.
These tycoons provide charity only to evade tax. Charity is also a way of buying favours from the government in the long run. This indirectly helps the business of the organization. In my books this is also called sophisticated bribing.
If only all of these businessmen paid their taxes as per the law we don't need so many charities in first place.
Re: Do you really believe this article?
by velmurugan subbarayan on Oct 26, 2014 06:13 AM
I agree to this..if they have really helping mind, why dont they pay good salary for their employees?. why did they have many contract employees who are paid less than 5000 Rs per month.
Indian biz tycoons,in infrastructure/software/automobile/Pharmaceuticals and known industrialists are giving charity out of the profits reaped from their biz and not the real charity in its actual sense.Robbing Peter to pay Paul is the adage for these charities Why Ambanis/Nadar/Jhujhunwala etall would give charity if they do not make ill gotten wealth by duping Govt/clients/suppliers etc.? It is cheap publicity and the real charity is by adopting villages/giving treatment to the less privileged people undergoing treatment for life threatening diseases. Charity made should not be publicised but made in a silent manner which would reveal by itself from the results emerging from various strata of society and places.
