Increase in Director's Remuneration

Chartered Accountant



Procedure for increasing the remuneration of directors of private limited company

 
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ACS



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 likes : 3 times

 
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Company Secretary



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 likes : 1 times

 
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Company Secretary



Yes. Agreed with experts

 
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Company Secretary



Hi...

Undoubtedly agreed with the experts!

 
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B.com CA DISA(ICA) Pursuing CS


Agreed with experts!

 
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Company Secretary & Compliance Officer


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

 
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company secretary



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

 
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