Managerial remuneration

Daer Friends,

Kindly suggest me that does Deputy CEO and COO of the company who is drawing Rs 7500000 par annum from the company instead of that he is not the director of the Company, comes under  section 198 and Schedule XIII of Companies Act 1956  and approval for their appintment and remuneration of the same needs to be taken from centeral government through eform 25C

 

Replies (5)

No they don’t come under section 198 and other remuneration related provisions like CG approval etc. However they should not be connected with the director as relatives etc to prevent from section 314.

 

Regards

Hi... Sec 198( read with Schedule XII )applies only incase of Managerial remuneration which inludes Managing Director/Whole -time Director/ Manager of the company  but does not include COO and CEO of the company who are not  directors of the company. In that case there is no need to take approval for their  appointment and remunertaion from the central government through e-form 25A.

Thanks Ankur for your help, but cant Cheif Operating Office comes under the head of "Manager" and if so that section 198 is applicable on above mentioned situation

Manager is a specific position UNDER SECTION 2(24) read with section 269. Hence We can not automatically consider COO as Manager u/s 269.

So there is nothing to worry.

Just be aware of section 314.

 

Section 198 and Sch XIII are not applicable.

 

Regards

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
24 October 2026
CA Industrial Trainee

Fytomax Nutrition Private Limited

Aurangabad

CA Inter

View Details
Company
ARTICLESHIP 23 October 2026
CA Articleship / Article Assistant

M N Rao & Associates LLP

Vijayawada

CA Inter

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
ARTICLESHIP 22 October 2026
Articleship intern

Srinath Manikanta

Hyderabad

CA Inter

View Details
Company
08 October 2026
Account Executive

Elite Taxation

New Delhi

CA Foundation

View Details