Vivek Khakhkhar (Assistant Audit Manager) (201 Points)
30 November 2014Dear Members,
As per new companies act, 2013, can a private company pay commission to managing & executive directors for higher sales achieved during the current year in addition to director's remuneration?
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 03 December 2014
Commission can be paid but it will be part of remuneration only [Ref.Sec.2(78)] and entire procedure relating to remuneration will apply to commission also.
CAclubindia
