15 December 2009
Max Ceiling of Remuneration: To MD, Whole time Director is 5% If more then one then 10% (to all) Non-executive directors (all) 1% (if company has MD/WTD) 3% (in other case)
Overall ceiling is 11% of net profit.
Net profit means net profit as determined as per sec 349, 350 of the Companies Act.
Remuneration includes any monthly,qtrly, yearly payment, rent free accomodation, other amenity free of charge, insurance etc.