Section 314
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 September 2010
ABC is a pvt ltd Company. Mr. X is MD of the Company. The Company proposes to appoint Ms. Y, the daughter of Mr. X as employee of the Company. What resolutions and type of meeting will be required if
1) monthly remuneration is Rs. 9,500/- p.m.
2) monthly remuneration is Rs. 19,500/- p.m.
3) monthly remuneration is Rs. 30,000/- p.m.
4) monthly remuneration is Rs. 60,000/- p.m.
While interpreting the term remuneration, does it include only Basic + DA or other perks and emoluments as well?
Experts please help.
1) monthly remuneration is Rs. 9,500/- p.m.
2) monthly remuneration is Rs. 19,500/- p.m.
3) monthly remuneration is Rs. 30,000/- p.m.
4) monthly remuneration is Rs. 60,000/- p.m.
While interpreting the term remuneration, does it include only Basic + DA or other perks and emoluments as well?
Experts please help.
Jagruti (CS)
(Expert)
09 September 2010
Following are the procedure
1) monthly remuneration is Rs. 9,500/- p.m.- Board resolution only
2) monthly remuneration is Rs. 19,500/- p.m.- Special Resolution which may be taken after appointment also
3) monthly remuneration is Rs. 30,000/- p.m.- Prior Approval of shareholders by Special resolution
4) monthly remuneration is Rs. 60,000/- p.m - Prior Members approval with special Reoslution & Central Govt approval too
as per Sec 314 , remunertion includes any payment made by Company to such individualholding office or place of profit
1) monthly remuneration is Rs. 9,500/- p.m.- Board resolution only
2) monthly remuneration is Rs. 19,500/- p.m.- Special Resolution which may be taken after appointment also
3) monthly remuneration is Rs. 30,000/- p.m.- Prior Approval of shareholders by Special resolution
4) monthly remuneration is Rs. 60,000/- p.m - Prior Members approval with special Reoslution & Central Govt approval too
as per Sec 314 , remunertion includes any payment made by Company to such individualholding office or place of profit
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