Remuneration / incentives to directors of private limited co

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Sanket (Querist)
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11 July 2012 Kindly let me know the rule regarding limit of remuneration / incentives to directors of private limited company.

Ajay Mishra

Ajay Mishra (Expert)
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11 July 2012 Hi

The provision of Companies Act, 1956 will not apply regarding remuneration paid to directors of private limited company. You are free to pay remuneration but subject to the approval of Articles of Association of the Company.

Sanket

Sanket (Querist)
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11 July 2012 Hello,

In that case, if we decide to give incentive (other than salary/remuneration)to directors, do we need to pass board resolution.

Ajay Mishra

Ajay Mishra (Expert)
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11 July 2012 Hi

You can do so in Board Meeting, there is no restriction but subject to the provision of your company's articles.

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