A BENEFICIARY DIRECTOR RETIRES FROM A PRIVATE LIMITED COMPANY, HOW THE PROFITS OF THE COMPANY BE GIVEN TO HIM WHEN HE RETIRES IN THE MIDDLE OF THE FINANCIAL YEAR
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Beneficiary retiring director's portion of retiring amount
Replies (1)
According to me Company as a legal entity dont share its profit or loss among their directors....
Directors can only take the remuneration as decided by the company read with the Companies Act 2013
So if directors remuneration is say for eg 12 lakh for a year and if he retires after 5 months then accordingly company is liable to pay the dues related to its till date remuneration only i.e. 5 lakhs
Directors can only take the remuneration as decided by the company read with the Companies Act 2013
So if directors remuneration is say for eg 12 lakh for a year and if he retires after 5 months then accordingly company is liable to pay the dues related to its till date remuneration only i.e. 5 lakhs
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