Directors remuneration
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 November 2013
Is there any limit on payment of remuneration to directors of a private limited company as per the provisions of the Companies Act,1956 or Companies Act,2013?
27 November 2013
Hi
The provisions of Companies Act, 1956 and Schedule XIII deal with remuneration of director will not applicable to private limited company. Such provision is applicable only public company and its subsidiary.
The remuneration of directors of the private company is totally governed by their company articles. If the Company’s article permits to pay remuneration you can give remuneration without any restriction. For this you will pass a Board Resolution for payment of remuneration.
The provisions of Companies Act, 1956 and Schedule XIII deal with remuneration of director will not applicable to private limited company. Such provision is applicable only public company and its subsidiary.
The remuneration of directors of the private company is totally governed by their company articles. If the Company’s article permits to pay remuneration you can give remuneration without any restriction. For this you will pass a Board Resolution for payment of remuneration.
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