Section 217 (2a)

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

21 November 2012 Does the above section require to give the whole list of employees who have been paid an amount in aggregate of Rs. 3,00,000 p.a.??

Suppose A pvt. ltd. company has 900 such employees. Is it necessary for the company to attach the list of employees in their directors report and is it mandatory to file the same with ROC while annual XBRL Filing??

Is this clause still applicable or removed??
If removed, Can we find the notification or circular through which the same was withdrawn.

Urgent reply requested.

Ajay Mishra

Ajay Mishra (Expert)
Follow

21 November 2012 Hi

STATEMENT SHOWING PARTICULARS OF EMPLOYEE [SECTION 217(2A)]

Section 217(2A) of the Companies Act, 1956 provides that the Directors’ Report shall contain information in a statement about employees who are in receipt of remuneration of such sum as may be prescribed, per annum if employed in the whole of the last year or per month if employed for part of the year. The particulars required to be given in the statement to the Directors’ Report shall be in accordance with Companies (Particulars of Employees) Rules, 1975. The salary limit of employees for the purpose of the above Rule has been raised by Notification GSR 289 (E) dated 31.03.2011 from Rs. 24 lakhs to Rs. 60 lakhs per annum in respect of employees employed throughout of the year or from Rs. 2 lakhs to Rs. 5 lakhs per month if employed for the part of the year.

MCA has clarified vide its Circular No. 23/2011, dated 03.05.3011 that increase in remuneration limit is applicable to all Directors’ Report approved by the Board of Directors on or after 01.04.2011 irrespective of the accounting year, being approved by the Board.

Querist : Anonymous

Querist : Anonymous (Querist)

21 November 2012 Thankyou

Upgrade to CAclubindia Pro. Subscribe Now!