01 December 2014
Can salary to director in private company be given if he is non executive director under the Companies Act 2013. If no, what are the formalities under CA 2013.
02 December 2014
YOU CAN PAY SALARY TO NON EXECUTIVE DIRECTOR
Querist :
Anonymous
Querist :
Anonymous
(Querist)
03 December 2014
But Sir regarding appointment of WTD in a Private Company under the Companies Act, 2013 wont be like this?
As soon as we start giving salary to a director, that director becomes a whole time employee of the company. Once a director is a whole time employee than by virtue of Section 2 (94) of Co's Act, 2013 he becomes a Whole Time Director.
Section 196 read with Schedule V of Co's Act, 2013 is applicable on both Private and Public Company.
So if the proposed appointee is a person who complies with Section 196 and SchduleV than no approval of CG is required and only MR-1 along with MGT-14, DIR-12 would be filed with ROC.