Director's salary
This query is : Resolved
03 July 2012
Can a director of the private limited company received salary from more than one company.? (All are pvt. ltd. company.)
03 July 2012
Presuming the private companies are "stand alone", director can receive
salary from more than two private companies if:
(a) he is acting as MD (not WTD) in such company(s) - (compliance of Section
316(2) not required by such private company(s))
(b) he is acting as Non executive director in such company(s) - with
compliance of Section 309(4)
Also note: For the purpose of point 2 & 3, Section 309(6) should be
complied.
salary from more than two private companies if:
(a) he is acting as MD (not WTD) in such company(s) - (compliance of Section
316(2) not required by such private company(s))
(b) he is acting as Non executive director in such company(s) - with
compliance of Section 309(4)
Also note: For the purpose of point 2 & 3, Section 309(6) should be
complied.
03 July 2012
A director is simple director in 5 company. He received only salary from all five companies. then
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