Before agreeing to this, one must be aware of the tax consequences. There is case law stating that ceding remuneration to another party (such as back to the employer), does not entail that the income is not considered as taxable income in the hands of the initial beneficiary. This would result in the fact that although the income is never actually received by the employees or directors, they may still be taxed on that income and the company/employer may have a withholding tax obligation.
It is possible to tackle this issue when well structured. Therefore, be well informed before entering into such an agreement!