Section - 199 - Calculation of commission, etc., in certain cases
Calculation of commission, etc., in certain cases.199. (1) Where any commission or other remuneration payable to any officer or employee of a company (not being a director [***] or a manager) is fixed at a percentage of, or is otherwise based on, the net profits of the company, such profits shall be calculated in the manner set out in sections [and ].(2) Any provision in force at the commencement of this Act for the payment of any commission or other remuneration in any manner based on the net profits of a company, shall continue to be in force for a period of one year from such commencement; and thereafter shall become subject to the provisions of sub-section (1).
67. Words ",the managing agent, secretaries and treasurers" omitted by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000.
Determination of net profits.349. (1) In computing .... To read the full section download the app from Google Play store
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