Remuneration of Technical director.

This query is : Resolved

CA.Satinder Pal Singh (Querist)
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02 July 2008 Our company has appointed a person as an additinal director w.e.f 20/03/08. now, actually we want to appoint him as technical director. the company has no profits becoz in the gestation period. now how much maximum salry we can give to him per month.? what are the restrictions to the salary of other direcors. whether schedual xiii applies? our company is the subsidary of a public company. what is the procedure for his remuneration to be paid from april to june.

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Guest (Expert)

07 October 2009 The maximum salary would be calculated on the basis of composition of directors, As schdule XIII is applicable to your company.

Appoint the person as the independent director and paid him the salary on the basis of sitting fees.

As, most of the companies appoint technical person as independent director