Office or place of profit

In the case of an office or place of profit held under any subsidiary, the provisions of the section would not apply if the remuneration received by the person holding the office in respect of such office is paid over by the person to the subsidiary  company or to the holding company. In other words, the person obtaining the remuneration for his office or place of profit must return the remunerationto to the subsidiary company or to the holding company. 

Accordingly, if a person holding any office or place of profit in the subsidiary company does not obtain any remuneration from the company or from the holding company, he would not be within the purview of section 314.