Managerial Remuneration

 manger remuneration calculated as per provisions of Companies act is the maximum amount that a company can pay.

There is nothing mentioned about when it is to be paid.

A director or manager can get remuneration on monthly basis but it can not exceed the amount so calculated.

1. Wholetime Directors Managerial Remuneration are paid as per the agreed terms of contract. SEc.309(3) of the Companies Act, mentios that Wholetime Director / Managing Director can be paid remuneration either by means of monthly payment or by means of commission or by both.

2. Sitting Fees if paid to the Executive directors would be termed as a managerial remuneration and would fall wihtin the ambit of manaerial remuneration and hence normally in practice, sitting fees is not paid to the executive directors.

3. Sitting fees paid to the non executive directors does not form part of the managerial remuneration limits pursuant to Sec.198(2) of the Companies Act, 1956.

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