Director remunerarion

This query is : Resolved

Share Report Follow Query Ask a Query

Avijit Das

Avijit Das (Querist)
Follow

12 August 2021 can one director get remuneration from 2 company. please provide the section

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

12 August 2021 Yes.

Section 165(1) of the Act states that a person can hold the office of director simultaneously in 20 companies. The number of 20 companies includes the office of alternate directorship. A person cannot be a director in more than 20 companies at a given time. However, the maximum number of public companies in which a person can be a director simultaneously is 10

Avijit Das

Avijit Das (Querist)
Follow

12 August 2021 is there any limit? for this

CS Divesh Goyal

CS Divesh Goyal (Expert)
Follow

13 August 2021 Yes Director can get remuneration from two companies as part time non executive director.

CS Divesh Goyal

CS Divesh Goyal (Expert)
Follow

13 August 2021 But, if he is executive Director (WTD/MD) in any company then he can get remuneration only from one.

Avijit Das

Avijit Das (Querist)
Follow

13 August 2021 director remuneration can provide more than 11% for limited company. company paid up capitan 80lacs & profit 80 lacs

CS Divesh Goyal

CS Divesh Goyal (Expert)
Follow

13 August 2021 1. If it is private Company. There is no limit of remuneration to directors.

Avijit Das

Avijit Das (Querist)
Follow

13 August 2021 no sir, it is public ltd co

CS Divesh Goyal

CS Divesh Goyal (Expert)
Follow

16 August 2021 As it is public Company, If he is non executive director he can take remuneration from both companies upto limit of 197 or schedule V

Avijit Das

Avijit Das (Querist)
Follow

16 August 2021 any provision in company act for director remuneration more than 11% of net profit for public limited company. net profit 80 lacs & paid up capital 80 lacs

CS Divesh Goyal

CS Divesh Goyal (Expert)
Follow

06 September 2021 Check the Schedule V for payment of remuneration more than 11%.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now