Salary figure to director of pvt ltd com
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 August 2013
is there is any monetary figure mentioned in company act for salary to the director of a pvt ltd company.
Ajay Mishra
(Expert)
01 August 2013
Hi
The provisions of Companies Act, 1956 and Schedule XIII deal with remuneration of director will not applicable to private limited company. Such provision is applicable only public company and its subsidiary.
The remuneration of directors of the private company is totally governed by their company articles. If the Company’s article permits to pay remuneration you can give remuneration without any restriction. For this you will pass a Board Resolution for payment of remuneration.
The provisions of Companies Act, 1956 and Schedule XIII deal with remuneration of director will not applicable to private limited company. Such provision is applicable only public company and its subsidiary.
The remuneration of directors of the private company is totally governed by their company articles. If the Company’s article permits to pay remuneration you can give remuneration without any restriction. For this you will pass a Board Resolution for payment of remuneration.
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