Remuneration to Directors

yes director remuneration is 5% of net profit after adjustment of sec 309

As per sub section 9 of Sec 309, The provisions  shall not apply to a private company unless it is a subsidiary of a public company

There is no bar / ceiling on payment of Remuneration to Directors of a Pvt Ltd Co. as  Section 198, 309 are NA to PVT  Co.

How ever u need to check wether the Articles of Association authorise the Board or Members to approve  Remuneration.