Salary to the director of a pvt company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 July 2013
dear experts
we have appointed an additional director in march 2013.our company is a private company and the company want to gave salary to the director.
i am confused in which section it would be given and how much can be allowed to give.
please help me
we have appointed an additional director in march 2013.our company is a private company and the company want to gave salary to the director.
i am confused in which section it would be given and how much can be allowed to give.
please help me
31 July 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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