Remuneration committee

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rajni (Querist)
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01 August 2013 sir will u plz tell me if a director whose remuneration shall be revised & resolution shall be passed in board meeting about revised remuneration under schedule xiii part ii of the companies act, 1956 on the recommendation of remuneration committee then whether resolution of revised remuneration of relative of that director whose remuneration was under the limit of sec 314(1B), will to be passed in remuneration committee minutes.

Ajay Mishra

Ajay Mishra (Expert)
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01 August 2013 Hi

Remuneration committee deal with the remuneration of directors and not for office for place of profit.

If you have given extra power to such committee, then he will deal remuneration under section 314 otherwise not.

Committee will only deal with directors remuneration as per section 198 and 309 read with Schedule XIII.

rajni

rajni (Querist)
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01 August 2013 SIR OUR RELATIVE OF DIRECTORS RECEIVE REMUNERATION UPTO RS.250000

Ajay Mishra

Ajay Mishra (Expert)
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01 August 2013 The provision of section 314 will apply when director also covered under section 314. If he is not covered under section 314 then his relative will also not covered under section 314.

If director is not receiving any remuneration and then his relative is appointed then only Board resolution is sufficient no need to apply section 314 on such relative.

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