Advance salary to a full time director in pvt ltd
This query is : Resolved
31 May 2014
Are we allowed to give 3 months advance salary to full time director of a PVT lTD company ?
Is there any restrictions on that ?
Is there any restrictions on that ?
01 June 2014
You have to take care of section 185 of companies act, 2013 related to loan to director as the same is also applicable to private company.
Also check your AOA in this regard.
Thanks
Also check your AOA in this regard.
Thanks
03 June 2014
But this is actually a salary advance as we do in case of normal employees and not a loan ?
AOA doesn't prohibit anything for this.
So, will this be acceptable ?
AOA doesn't prohibit anything for this.
So, will this be acceptable ?
03 June 2014
Now as per the provisions of section 186 even loan to employee is covered under section 186.
Please go through section 186 of companies act, 2013 carefully.
Thanks
Please go through section 186 of companies act, 2013 carefully.
Thanks
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