Designated partners remuneration_llp

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This discussion clarifies whether designated partners in an LLP can receive remuneration, even if they are also drawing salaries as directors in two other companies. The consensus is that remuneration from the LLP is separate and not included in the limits for director salaries from other companies. Salary can be paid to working partners of the LLP.

Kowsalya

Kowsalya (Querist)

08 October 2021 can the designated partners draw remuneration from LLP irrespective of drawing the directors remuneration as a whole time or managing directors in 2 companies?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

08 October 2021 Salary can be paid only to working partners of LLP.

Message likes : 1 times

Kowsalya

Kowsalya (Querist)

08 October 2021 They are working partners in LLP too. Can you please clarify whether the limit of remuneration from 2 companies includes LLP also?

Thanks in Advance

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

08 October 2021 No, it will not include.

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