According to section 197 of Companies Act, The total ( agregate) managerial remuneration payable by a public company to its director including MANAGING dIRECTOR, WHOLE TIME DIRECTOR AND MANAGER IN A FINANCIAL YEAR SHALL NOT EXCEED 11% OF THE NET PROFIT OF THE COMPANY. PROVIDED THAT COMPANY IN GENERAL MEETING AND ALSO WITH APPROVAL OF CENTRAL GOVERNMENT AUTHORIZE THE PAYMENT OF REMUNERATION EXCEEDING 11% OF THE NET PROFIT OF THE COMPANY, SUBJECT TO THE PROVISIONS OF SCHEDULE V
EXCEPT WITH APPROVAL OF COMPANY IN GENERAL MEETING, REMUNERATION PAYABLE TO ANY ONE MANAGING DIRECTOR OR WHOLE TIME DIRECTOR OR MANAGER SHALL NOT EXCEEC 5% OF BET PROFIT OF THE COMPANY AND 10% OF NET PROFIT OF COMPANY IF THERE IS MORE THAN ONE SUCH DIRECTOR.
iMPORTANT NOTE : AND SUCH A PERCENTAGE OF NET PROFIT SHALL BE EXCLUSIVE OF ANY FEES PAID TO DIRECTOR FOR ATTENDING BOARD MEETING OR COMMITTEE MEETING AS THE CASE MAY BE