04 May 2011
i have heard MCA has increased salary to director's relative RS. 50000 p.m to 250000 P.M is this right and if salary increased then whether applicable for pvt ltd or ltd. company
04 May 2011
>>>>G.S.R. 303(E) dated 21.04.2011 Amendment in Director's Relatives (Office or Place of Profit) Rules,2003.- MCA has increased the limit of salary to director's relative from RS. 50000 p.m to 250000 P.M... means if salry is less than Rs. 250000 than no approval of Central govt require for the said purpose according to companies act,1956 >>>> This provisions not applicable on private company....
05 May 2011
I disagree with the expert...in my opinion, provisions of section 314 of the Companies Act, 1956 are applicable to both Private and Public Limited Companies.
CAclubindia
