If I am increasing remuneration of a director of my pvt ltd co...what are the applicable section affecting it??And do I have to file any form?Please reply
Increase in remuneration
(Guest)
CA ASHISH SHAH
(CHARTERED ACCOUNTANT)
(353 Points)
Replied 07 May 2013
only board resolution has to be pass. to amend the same.
CA ASHISH SHAH
(CHARTERED ACCOUNTANT)
(353 Points)
Replied 07 May 2013
Madam, Section 314 will applicable to Limited co and not pvt. ltd co.
Manish Mehra
(Associate Company Secretary)
(47 Points)
Replied 07 May 2013
Ms. Priyanka,
You are right, it is applicable to both public and private. But I do not think it is applicable in your case. Please refer section 314(3), which clear states that office or place of profit means anything by way of remuneration over and above the remuneration to which Director is entitled as director. Please refer the section quoted.
For increase in remuneration of Director of Pvt Co. no section is applicable but please refer articles of asociation for any limits and procedure.
No form is required to be filed with RoC.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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