Claim exemption under section 217(2a)

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kajal (Querist)
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18 February 2013 Is there any provision to claim exemption under section 217(2A) of the companies Act for not disclosing the employee salary details.

If any one of you handled the situation, or the procedure, pls let me know

Ankit

Ankit (Expert)
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18 February 2013 Dear Kajal,

If the section applies to your company, I dont think there is any manner in which you can escape the disclosure.

- Ankit

kajal

kajal (Querist)
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18 February 2013 mine is a private company? and we have not diclosed this information as yet since years any penalty or any process to regularise ths?

Ankit

Ankit (Expert)
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18 February 2013 Dear Kajal,

since the section uses the word COMPANY, I think private companies are also covered for the disclosures..

so, you can, from now onwards regularise the disclosures.

kajal

kajal (Querist)
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18 February 2013 but the company doesnt wish to, to maintain secrecy for senior management ..no remedy?

Ajay Mishra

Ajay Mishra (Expert)
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18 February 2013 Hi

However, as per provisions of Section 219(1)(b)(iv) of the said Act read with Clause 32 of the Listing Agreement, the Annual Report excluding the aforesaid information as required under section 217(2A) is being sent to all the members of the Company and others entitled thereto. Any member interested in obtaining such particulars may write to the Company.

kajal

kajal (Querist)
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18 February 2013 so is it ok to not disclose?

Ajay Mishra

Ajay Mishra (Expert)
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18 February 2013 Yes............

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