slab of managerial remuneration where profits are inadequate

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CA Abhishek Singh (Querist)
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17 February 2011 hello everyone,
in munish bhandari ca final law book(latest) slab is given as follows ;

=100 cr - rs.200000

I have pcc notes of accounts where there is 5 slabs i.e. one slab >=25 =50 <100 cr.

please confirm which one is correct and is their any amendment ??

Jayashree S Iyer

Jayashree S Iyer (Expert)
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18 February 2011 The limits are dependant upon the net effective capital of the company. Different limits are set for different situations viz.,

1) if the approval of Remuneration Committee is taken the maximum limit is 2,00,000 as per the following scales :

< 1 crore Rs. 75000
1 Cr or more but less than 5 cr. Rs.100000
5 Cr or more but less than 25 cr.Rs.125000
25 Cr or more but less than 50 Rs.150000
50 Cr or more buess than 100 Cr Rs.175000
100 Cr or more Rs.200000

2) If approval of Remuneration Committee and members approval by way of Special Resolution is taken then the limit is Rs.4,00,000 as per the following scale -

< 1 crore Rs.150000
1 Cr or more but less than 5 cr. Rs.200000
5 Cr or more but less than 25 cr.Rs.250000
25 Cr or more but less than 50 Rs.300000
50 Cr or more but less than 100 Rs.350000
100 Cr or more Rs.400000

Please go through Section II of Schedule XIII of Companies Act, 1956 for thorough understanding of the subject.