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Board Resolution for Salary Increase of Employees

Rajesh Chhikara (HR- Head) (45 Points)

01 September 2010

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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6 Replies

gaurang (student ca) (46 Points)
Replied 04 January 2011

u are not req 2 pass any board resolution

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Ajay Mishra (Company Secretary) (74342 Points)
Replied 04 January 2011

No need to pass resolutions for the payments of remuneration to employees.

The provisions of remunerations will not apply to private company.

Regards

Jayashree S Iyer (Company Secretary) (3224 Points)
Replied 04 January 2011

No need.

parthasarthy naidu (CS) (66 Points)
Replied 15 February 2011

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

Sumit Bansal (2 Points)
Replied 29 March 2018

Hello

Do we have to pass the Board Resolution for increase in remuneration of Company Secretary in listed company?

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CS M Pota (Company Secreatary) (3186 Points)
Replied 29 March 2018

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.