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Working Director Salary

Co Act 2013 213 views 2 replies

JYOTI

Business

52 Points Joined September 2016

I and my wife are the two directors of our company. We work full time in our company

[Pursuant to sub-section (2) of section 7 and sub-section (1) of section 8 of the Companies Act, 2013 (18 of 2013) and rule 18 of the Companies (Incorporation) Rules, 2014].

I want to know, can we get salary from our company.

If yes, what is the max salary per month we get.

Replies (2)

Chirag

Professional

1979 Points Joined December 2017

As Prescribed In Resolution Passed or In an Appointment letter ,If Both are having some field of experience/expertise or professional acumen then it will be out of scope of RPT u/s 188, Appointment/ Increase in remuneration ( subject to AOA) will also be confirmed later by shateholder's by ordinary resolution

Guest

For private limited company, there is no limit for remuneration as Section 197 of the Act only applies to public companies. Both directors can take as much salary as required.