Director remuneration

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Querist : Anonymous

Querist : Anonymous (Querist)

06 December 2016 Dear All
As per schedule v a director cannot draw the agregate remuneration Rs. XXXXXX from all companies. Pls let me know the same with an example,

Thanks & Regards
Arun Bhargave

Jatin Bajaj

Jatin Bajaj (Expert)

09 December 2016 According to section V , Part II , Schedule V, a MANAGERIAL PERON SHALL DRAW REMUNERATION FROM ONE OR BOTH THE COMPANIES. BUT THE TOTAL REMUNERATION DRAWN SHALL NOT EXCEED THE HIGHER MAXIMUM LIMIT ADMISSIBLE FROM ANY ONE COMPANY IN WHICH HE IS A MANAGERIAL PERSON.
FOR EXAMPLE : MR X IS THE DIRECTOR IN TWO COMPANIES IN A AND B . HE DRAWS REMUNERATION FROM COMPANY A AMOUNTING TO 5 LAKH AND FROM COMPANY B AMOUNTING TO 3 LAKH. AND NOW HE IS ALSO APPOINTED AS MANAGERIAL PERON IN COMPANY C. SO THE AMOUNT HE CAN DRAW IN COMPANY C SHALL NOT EXCEED 5 LAKH. HE CAN DRAW ANYTHING LESS THAN 5 LAKH

Querist : Anonymous

Querist : Anonymous (Querist)

09 December 2016 Sir that means A director should draw
The maximum remuneration from first company however on holding directorship in another company He cannot draw remuneration more then first company?
Is it correct

Pls revert......

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