Dear experts
Could you please tell me about the Managerial remuneration % in clear explanation
suppose no profits means, plse explain me
5 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 17 September 2022
Refer section 197, 198 and 199. of the companies Act 2013 , with latest amendments.
MPR Sanjay Kumar
(3118 Points)
Replied 17 September 2022
The managerial remuneration should not exceed the 11 percentage of net profit...
1. a company having one whole time director, one managing director and manager means the remuneration is 5%.
2. if this person are one or more does not exceed of 10% remuneration
3. if these three persons are which means director manager managing director are partly means 1%
3%
correct or not
1. a company having one whole time director, one managing director and manager means the remuneration is 5%.
2. if this person are one or more does not exceed of 10% remuneration
3. if these three persons are which means director manager managing director are partly means 1%
3%
correct or not
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 17 September 2022
SECTION 200 mentions that wages can be lowered depending upon the affairs of the company. Does sole trader firm fall under companies act. Search for relevant act probably
MPR Sanjay Kumar
(3118 Points)
Replied 17 September 2022
@ The Above mentioned things are correct or not??
Chirag
(Professional)
(1979 Points)
Replied 29 September 2022
@ MPR just to simplify more
Overall Managerial Remuneration will not exceed 11% of Net Profit ( Executive + Non Executive )
For Each MD/ WTD Max 5%
Max Remuneration Ceiling of 10%
For Non Executive or Independent Director Upto 3% ( If No MD/WTD) else 1%
If Company Go Beyond That Special Resolution is required to be passed
Schedule V of Act ,Prescribe Quantitive Remuneration In Case Of Loss ,With the amendment in Act ,I/Ds are also eligible with prescribed limit in case of loss
For Listed Companies
Approval and Disclosure Mechanism is different
Overall Managerial Remuneration will not exceed 11% of Net Profit ( Executive + Non Executive )
For Each MD/ WTD Max 5%
Max Remuneration Ceiling of 10%
For Non Executive or Independent Director Upto 3% ( If No MD/WTD) else 1%
If Company Go Beyond That Special Resolution is required to be passed
Schedule V of Act ,Prescribe Quantitive Remuneration In Case Of Loss ,With the amendment in Act ,I/Ds are also eligible with prescribed limit in case of loss
For Listed Companies
Approval and Disclosure Mechanism is different
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