A has been appointed as wtd in X ltd. he is also a director on B Pvt Ltd.
can he draw salary from both the companies.
pls note
X ltd.: public ltd A appointed as WTD
B Pvt. Ltd.: private limited appointed as director
drawing slary from both
2 Replies
Shridhi Jain
(Company Secretary)
(1678 Points)
Replied 09 April 2011
He can draw salary from the pub. co. and can get commission/sitting fees from the pvt. co. No restriction as such.....
Pls correct me if I am wrong, I dont think that any independent director can draw salary from the company. Whatever he is getting should be in the form of Commission or sitting fees.
anjali
(service)
(85 Points)
Replied 11 April 2011
thks
to my understanding ther is no restriction on giving salary to directors of private company
as furthetr if the director was eligible for Leave encashment in pvt company as on 31st march.2011 and the amount is paid in April 2011 by the company
and becomes wtd in another public ltd company w.e.f. 1st april, 2011
do we include the leave ncashment amt into managerial remuneration
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