Sitting fees to Director
Chaitanya Udgirkar (43 Points)
27 June 2020
what is the maximum amount which can be paid to a Director as sitting fees ? for a Private limited
3 Replies
CA Sunil Kumar
(Chartered Accountant)
(4524 Points)
Replied 27 June 2020
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.
pritesh
(delhi)
(720 Points)
Replied 03 July 2020
Executive director are not required to get the sitting fees.
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