Managirial remuniration

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 August 2012 If in the company there are two whole time director and one manager, then how to calculate remuneration????

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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29 August 2012 Should Not exceed 11% Total remuneration Given by Co.

Ajay Mishra

Ajay Mishra (Expert)
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29 August 2012 Hi

Payment of Managerial Remuneration

The total managerial remuneration payable by a public company to its directors or manager in respect of any financial year shall not exceed 11% of the net profit of the company for that financial year computed in manner laid down in section 198(1) of the Companies Act, 1956.

Remuneration payable to MD or WTD shall not exceed 5% of the net profit for one such director and if there is more than one such director, 10 % for all of them together.

The provision of managerial remuneration will not apply to private limited company.

Regards
CS Ajay Mishra

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Querist : Anonymous

Querist : Anonymous (Querist)

31 August 2012 only MD and WTD cover in above provision, how to calculate MR if there are 1 manager and 2 WTD

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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31 August 2012 As Ajay Sir Told, Just Read Para Carefully.

Shouldnt Exceed 5% Per MD/WTD..
Also Should Not Exceed in Total 10% to MD/WTD.

Also Check Should Not Exceed 11% Total to all Managerial Remuneration.

U Have to Check These Three Condition at Once.

Message likes : 1 times

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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31 August 2012 Now If U Hav One manager & 2 WTD,
Then Check These These Three Condition.

Give Me Numerical Figure I will get u to the point.