Problem in distribution of managerial remuneration

IPCC 1176 views 1 replies

CA-Final

1485 Points Joined May 2012

What should be remuneration ( %age ) in following points :-

Replies (1)

Student

386 Points Joined March 2010

Managerial Personnel	Maximum % of Net Profits
Maximum Remuneration to all the managerial personnel	11%
Manager	5%
MD (or) WTD	5%
MD (or) WTD when there is more than one	10%
PTD when the company is not having MD, WTD or manager	3%
PTD when assisted by a MD,WTD,Manager	1%

MD-Managing Director

WTD-Whole time Director

PTD- Part time Director

Note :

A company cannot have more than one manager at a time..
When the company has more than one WTD the total remuneration payable to WTD including MD if any should not exceed 10% of net profits of company.