Problem in distribution of managerial remuneration

Rohit (CA-Final) (1485 Points)

16 October 2012

What should be remuneration ( %age ) in following points :-

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Mahesh (Student) (386 Points)
Replied 17 October 2012

Managerial Personnel	Maximum % of Net Profits
Maximum Remuneration to all the managerial personnel	11%
Manager	5%
MD (or) WTD	5%
MD (or) WTD when there is more than one	10%
PTD when the company is not having MD, WTD or manager	3%
PTD when assisted by a MD,WTD,Manager	1%

MD-Managing Director

WTD-Whole time Director

PTD- Part time Director

Note :

A company cannot have more than one manager at a time..
When the company has more than one WTD the total remuneration payable to WTD including MD if any should not exceed 10% of net profits of company.