Director remuneration

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CA, CS Kavit S Shah (Querist)
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31 May 2013 Dear Expert,

Our co. (Unlisted Public Co) has a net profit of Rs.508000/- and we have paid remuneration of Rs.2700000/-
So can we follow rules of Schedule XIII i.e remuneration based on effective capital.
and if not pls let me know the procedure to be follow for the same
Our Effective Capital is Rs.3Crore
So max remuneration 100000/- p.m. per director without passing special resolution
And upto Rs.200000/- p.m. per Director by passing Special resolution.
Please correct if I am wrong

Ajay Mishra

Ajay Mishra (Expert)
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22 June 2013 Hi

Schedule XIII will apply.

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