what r the procedure to increase the remuneration paid to directors and relatives of the directors in a pvt. ltd. co. The provisions of sec 309 , 310 apply to public co. and subsidiaries of public limited companies.
TRISHNA (CHARTERED ACCOUNTANT) (40 Points)
30 July 2010what r the procedure to increase the remuneration paid to directors and relatives of the directors in a pvt. ltd. co. The provisions of sec 309 , 310 apply to public co. and subsidiaries of public limited companies.
vivek
(CS)
(751 Points)
Replied 30 July 2010
There is no restriction on remuneration to MD /WTD and Director of a Pvt. Ltd. Comp. (which uis not a susi of a Public Comp.) but as far as relatives are concerned u will have to follow 314(1b).
Regards,
Deepak Maharishi
(CS)
(514 Points)
Replied 30 July 2010
Agree with Vivek.
Section 314 is applicable for both private and public limited companies and thus you will have to follow the same.
regds
dpk
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
