Section 269 read with Schedule XIII of the companies Act 195
This query is : Resolved
12 June 2009
DEAR ALL,
How can I calculate the limits to increse the remuneration of our directors under
Section 269 read with Schedule XIII of the companies Act 1956.
Kindly advise.
How can I calculate the limits to increse the remuneration of our directors under
Section 269 read with Schedule XIII of the companies Act 1956.
Kindly advise.
13 June 2009
If you have appointed your Managerial Personnel following Schedule XIII then you have 2 options:
1. If your company is a profit making company then follow Section-309 for Managerial Remuneration percentages.
2. If your company is a loss making company or profits are inadequate then follow schedule XIII.
To decide the remuneration as per Schedule XIII calculate your effective capital formula for which is given in Schedule XIII itself.
Before giving Managerial Remuneration as per schedule XIII complete its requirement.
Regards
1. If your company is a profit making company then follow Section-309 for Managerial Remuneration percentages.
2. If your company is a loss making company or profits are inadequate then follow schedule XIII.
To decide the remuneration as per Schedule XIII calculate your effective capital formula for which is given in Schedule XIII itself.
Before giving Managerial Remuneration as per schedule XIII complete its requirement.
Regards
18 June 2009
Thank you sir. Since i have little knowledge in the corporate law i want to know the capital formula. please advise me
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