Hi,
As per company law is there any requirement of Board resolution to be passed for revisiong the salary of employees in a private limited company.
Thanks,
Rajesh Chhikara
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Board Resolution for Salary Increase of Employees
Replies (6)
u are not req 2 pass any board resolution
Hi
No need to pass resolutions for the payments of remuneration to employees.
The provisions of remunerations will not apply to private company.
Regards
No need.
It is adviseable to take on record the terms of settlement. This will ensure that the Board of management is aware of the terms. Hence, it would be in the interest of the company to take a formal resolution in a duly convened board meeting for approving the terms of revision.
Thanks
apnaidu
Company secretary
Hello
Do we have to pass the Board Resolution for increase in remuneration of Company Secretary in listed company?
Dear Mr.Naidu
No, no need to pass Board Resolution for increasing salary of Compamy Secretary in any Company whether listed or not.
Please take note that if any Company, listed or not even in case of a Private Limited Comany,wish to increase salary of Managing or Whole Time Director then only Board Resolution is required to be passed.
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