Whether limit specified under Section II, part II of schedule V of CA 2013 is foe individual Managerial Personnel or for all Managerial Personnel taken together.???
Vijay Dixit (Student CS) (100 Points)
07 September 2016Whether limit specified under Section II, part II of schedule V of CA 2013 is foe individual Managerial Personnel or for all Managerial Personnel taken together.???
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 07 September 2016
It is for single managerial personnel. Refer opening sentence of Section-II:
"...... tenure of a managerial person, ....... pay remuneration to the managerial person not exceeding the higher of the limits under (A) and (B) given below...."
It does not state that it is remuneration to all managerial personnel taken together.
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