EMPLOYEE BENEFIT PLANS |
12 Months Ended |
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Oct. 31, 2025 | |
| Retirement Benefits [Abstract] | |
| EMPLOYEE BENEFIT PLANS |
NOTE 14 - EMPLOYEE BENEFIT PLANS
The Company’s U.S. subsidiaries maintain a 401(k)-retirement plan. The plan allows the Company to make matching contributions of 4% of employee compensation, subject to IRS contribution limits. U.S. employees who have at least six months of service with the Company are eligible. In addition, the Company’s UK subsidiaries operate statutory pension schemes which provide for the payment of certain contributions by the Company and the Employee. These schemes in the UK operate on a defined contribution money purchase basis and the contributions are charged to operations as they arise. Finally, the Company is obligated to provide pension funding according to the laws in which it operates including in both Denmark, Australia and India. The Company has an arrangement that fulfils this requirement. Costs related to the Company’s contribution to these employee benefit plans for the years ended October 31, 2025 and 2024 were $253,950 and $130,650, respectively
CODA OCTOPUS GROUP, INC. Notes to the Consolidated Financial Statements October 31, 2025 and 2024
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- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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