Salary to non executive director?

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Ankur Soni

Ankur Soni (Querist)
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03 October 2013 Sir/Madam
Can salary be paid to A non-executive director of a Private limited company ?

Ajay Mishra

Ajay Mishra (Expert)
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03 October 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.

Ankur Soni

Ankur Soni (Querist)
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03 October 2013 Ok. Thanks !!

Ajay Mishra

Ajay Mishra (Expert)
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03 October 2013 My Pleasure........

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