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Beneficiary retiring director's portion of retiring amount


RAHUL M (PROPREITOR)     13 December 2017

RAHUL M
PROPREITOR 
 1 likes  46 points

| My Other Post

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

Jenil Shah   14 December 2017

Jenil Shah

 8 likes  132 points

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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


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