Hi Friends,
Is there any provision for directors' salary ...?? Please help.
Rafeeq Jassil (Accounts Manager) (53 Points)
06 September 2013Hi Friends,
Is there any provision for directors' salary ...?? Please help.
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 09 September 2013
Hi
The provisions of Companies Act, 1956 and Schedule XIII deal with remuneration of director will not applicable to private limited company. Such provision is applicable only public company and its subsidiary.
The remuneration of directors of the private company is totally governed by their company articles. If the Company’s article permits to pay remuneration you can give remuneration without any restriction. For this you will pass a Board Resolution for payment of remuneration.
Vandana J Doshi
(Practising Company Secretary)
(12562 Points)
Replied 10 September 2013
agree with Ajay ji....
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