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Discussion > Corporate Law >

Increase in Director's Remuneration

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Chartered Accountant

[ Scorecard : 504]
Posted On 15 December 2010 at 16:57 Report Abuse

Procedure for increasing the remuneration of directors of private limited company


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Rajeev kumar Nayak
ACS

[ Scorecard : 275]
Posted On 15 December 2010 at 17:09

Hi,

As provision relating to remuneration under companies Act, 1956 does not apply to private company.

so simply pass a Board resolution to increase the remuneration.

in case of increase in remuneration of MD, also file e-form 23 with ROC within 30 days of passing of Board resolution as per the provision of section 192 of the Act.

 

Rajeev Nayak



Total thanks : 3 times




Jayashree S Iyer
Company Secretary

[ Scorecard : 3109]
Posted On 15 December 2010 at 17:12

Provisions relating to remuneration and increase in remuneration payable to Directors of the company viz., Sections 309, 310, 311, 198, Schedule XIII, etc.) are not applicable to private companies. Hence hold a board meeting and get the increase approved by the board.



Total thanks : 1 times



Syam kamal
Company Secretary

[ Scorecard : 146]
Posted On 15 December 2010 at 17:19

Yes. Agreed with experts




udit sharma
Company Secretary

[ Scorecard : 2283]
Posted On 15 December 2010 at 17:33

Hi...

Undoubtedly agreed with the experts!




Sonia M Ketkar
B.com CA DISA(ICA) Pursuing CS

[ Scorecard : 616]
Posted On 15 December 2010 at 22:27

Agreed with experts!




CS Ankur Srivastava
Company Secretary & Compliance Officer

[ Scorecard : 14906]
Posted On 17 December 2010 at 10:38

Originally posted by : Rajeev kumar Nayak

Hi,

As provision relating to remuneration under companies Act, 1956 does not apply to private company.

so simply pass a Board resolution to increase the remuneration.

in case of increase in remuneration of MD, also file e-form 23 with ROC within 30 days of passing of Board resolution as per the provision of section 192 of the Act.

 

Rajeev Nayak

Agree with Rajeev




SAJAD
management trainee

[ Scorecard : 81]
Posted On 09 September 2013 at 16:39

 please provide Resolution for increase in remuneration of directors in public company



There are 7 Replies to this message








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