remuneration committee
This query is : Resolved
ACS Tanushree Trivedi
(Querist)
28 June 2011
Dear experts,
My query is in case of public limited company --
* is there any minimum capital requirements to form remuneration committee or it can only be formed in case of inadequate profits under schedule XIII of the act?
* If paid up capital is 3 crore is it required to form the remuneration committee?
* can company create remuneration committee willingly or without such requirements.
Please clarify?
My query is in case of public limited company --
* is there any minimum capital requirements to form remuneration committee or it can only be formed in case of inadequate profits under schedule XIII of the act?
* If paid up capital is 3 crore is it required to form the remuneration committee?
* can company create remuneration committee willingly or without such requirements.
Please clarify?
Jayashree S Iyer
(Expert)
29 June 2011
Reply to your queries are -
* is there any minimum capital requirements to form remuneration committee or it can only be formed in case of inadequate profits under schedule XIII of the act?
No. If the company has profits and the managerial remuneration is within limits then there is no need to form remuneration committee. Remuneration Committee is to be formed in case of companies paying remuneration exceeding the limits specified in the Companies Act, 1956 or loss making companies.
* If paid up capital is 3 crore is it required to form the remuneration committee?
Paid up capital of the company has nothing to do with formation of remuneration committee. The amount of managerial remuneration being paid and the profitability or otherwise of the company decides the formation of remuneration committee.
* can company create remuneration committee willingly or without such requirements.
Yes, the company is free to form its own remuneration committee.
* is there any minimum capital requirements to form remuneration committee or it can only be formed in case of inadequate profits under schedule XIII of the act?
No. If the company has profits and the managerial remuneration is within limits then there is no need to form remuneration committee. Remuneration Committee is to be formed in case of companies paying remuneration exceeding the limits specified in the Companies Act, 1956 or loss making companies.
* If paid up capital is 3 crore is it required to form the remuneration committee?
Paid up capital of the company has nothing to do with formation of remuneration committee. The amount of managerial remuneration being paid and the profitability or otherwise of the company decides the formation of remuneration committee.
* can company create remuneration committee willingly or without such requirements.
Yes, the company is free to form its own remuneration committee.
ACS Tanushree Trivedi
(Querist)
29 June 2011
thank you very much for your assitence.
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