Is there any restriction on amount of salary paid to a Director of a pvt ltd company if he/she is well qualified.
Do we need to upload/submit any documents on ROC or pass any board resolution for this ?
Also, do we need to do anything different if we have an employee till now but we are converting him to Director of the company ? Do we still need to pass Board resolution and submit any document to ROC ?
Section 197 of the Companies Act is applicable to public limited companies and not to pvt ltd companies. Therefore there is no restriction on the remuneration paid to director of pvt ltd companies. The AoA shall provide for payment of remuneration to the directors
BHUPINDER SHAH AND COMPANY
New Delhi
CA Inter
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