Is it mandatory to pay sitting fees to non-independent non- executive directors??
Can sitting fees may vary from director to director??
please give section referrence too.
Richa Shaw (45 Points)
28 March 2018
Jatin Bajaj
(CS)
(2930 Points)
Replied 28 March 2018
As per the provisions of Section 197(5) of the Companies Act 2013, read with rule 4 of appointment and remuneration of mangerial personnel rules, a Company may pay sitting fees to executive or non executive director. But maximum fees payable to such director shall not exceed Rupees one lakh per meeting.
However sitting fees paid for attending Board meeting to independent Director shall not be less than the other directors
Richa Shaw
(45 Points)
Replied 28 March 2018
Jatin Bajaj
(CS)
(2930 Points)
Replied 28 March 2018
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