Company law
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 February 2013
can emplyee be member in pvt ltd company? it's urgent
19 February 2013
According to section 3 of companies Act, private company limits the no of members to 50 and not including :-
persons who are in the employment of the company, and
(ii) persons who, having been formerly in the employment of the company, were members of the company while in that employment and have continued to be members after the employment ceased;
hence the employees can be member but they will not be counted for the purpose of counting no.
persons who are in the employment of the company, and
(ii) persons who, having been formerly in the employment of the company, were members of the company while in that employment and have continued to be members after the employment ceased;
hence the employees can be member but they will not be counted for the purpose of counting no.
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 February 2013
sir then any loophole an employee can act as member
21 February 2013
Yes dear, they can be members but will not counted in maximum no of shareholder ( Limit of 50 members)
An employee can be an employee as well as member of the company.
for example :- company gives ESOP for motivating employees to reward their contributions.
An employee can be an employee as well as member of the company.
for example :- company gives ESOP for motivating employees to reward their contributions.
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