Remuneration for directors

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 June 2010 Dear Sir/Madam,
Directors of pvt co can get the remuneration as per companies act ceiling.....in a profit making co...how can a director can be benefited apart from remuneration....
My means to say that can director of a pvt co.. can keep profit with himself? if yes how?

Ankur Garg

Ankur Garg (Expert)
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18 June 2010 Hi,

Kindly appreciate strict provisions and ceilings relating to managerial remuneration mentioned in companies act, 1956 are not applicable to a private company.

Hence you are free to give any managerial remuneration to your director in your private company subject to the provisions of your articles.

Regards

CA Sanat Pyne

CA Sanat Pyne (Expert)
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18 June 2010 agree with expert Ankur Garg

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