17 March 2011
Section 309 of Companies Act prescribes the limit on managerial remuneration in following manner one WTD/MD = upto 5% of the net profit more than one WTD/MD = upto 10% of the net profit to all of them together.
My query is that in case of more than one WTD/MD, say 2 WTD, can we pay 6% of NP to one and 4% of NP to other.
18 March 2011
Yes....u can do so. The total remuneration to ED should not xceed 10% of the net profits of the Company computed in accordance with the provisions of Companies Act, 1956
CAclubindia
