Salary from two companies

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This query is : Resolved

deepika dhakad (Querist)

16 November 2017 1. Whether an Individual who is in full time employment of a Company can be appointed as Director of any other Company?
2. Whether he can get salary/ remuneration from both Company means salary as employee from one Co. and Salary/ remuneration as Director from another Company ?

Plz suggest with all applicable Act/ Rules/ LAws like Income Tax , Companies Act, LAbour Law etc.

Amol S Joglekar

Amol S Joglekar (Expert)

17 November 2017 01. yes. possible.
02. yes. No bar as such unless there is any restrictive clause to that effect in the employment agreement of the first company

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

17 November 2017 Full time employee can't become an executive / whole time director in a company
meaning thereby can't be remunerated for want of involvement in the effective
management of the company. Inference - section 2(94) of Co's Act, 2013.

deepika dhakad

deepika dhakad (Querist)

20 November 2017 Then how he can appoint as director..means what type of director? whether a Pvt Ltd Company can appoint an independent director to any person or mandatory to select independent director from list?

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