Director working for another organisation

This query is : Resolved

sri.student (Querist)
Follow

03 February 2015 can a person who is working as an employee in an organisation (not being a company) become director of a company and receive amount from the company as salary/remuneration/sitting fees? would there be any legal hassels if the person who is a director of a company works as a full time employee in another organisation?

c.bakshi

c.bakshi (Expert)
Follow

04 February 2015 That person can only be a non executive director and shall only be claim reimbursement of the expenses incurred in good faith of the company and sitting fees as prescribed by BOD of the company

sri.student

sri.student (Querist)
Follow

04 February 2015 sir,

does it mean a director working for another organisation cannot claim directors remuneration/salary?

c.bakshi

c.bakshi (Expert)
Follow

05 February 2015 if the company appoints him/her as whole time director then he can get salary and all other reimbursement from this company and can be independent director in some other companies where he/she can only be entitled to sittings fees and other reimbursment of expenses incurred on behalf of the company

c.bakshi

c.bakshi (Expert)
Follow

05 February 2015 when you appoint any person as a director then you have to specify whether he/she is executive or non executive. is he/she is executive then can only be entitled for remuneration

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

BABUSHANKAR BASAPPA

DURGA TANDEL

R.Prashanth

swaminathan

CA Rahul Patwardhan

Subscribe Now

Director working for another organisation

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA