CS
445 Points
Joined February 2009
Dear Saurabh,
kindly note that the remuneration to the executive dirs. is limited to max of 5% for one and 10% for more than one directors. However u may refer to other sections for the calculation of profit, as mentioned in the act. ( sec. 198/269,349,350,309)
in case of inadequacy of profit or loss in any financial yr. sch. XIII of the act. is to be referred. herein the criteria is the effective capital of the co. anc according to that the slabs of max. salary is mentioned, which shall cover all sorts of remuneraion excluding the statrutory deductions like PF.
yes, the terms salary and remuneration are confusing-but in my opinion they have the same meaning.