WebSep 17, 2024 · Subject to the provisions of section 197, a company having profits in a financial year may pay remuneration to a managerial person or persons not exceeding the limits specified in such section. Section II.—. Remuneration payable by companies having no profit or inadequate profit without Central Government approval: WebSep 20, 2024 · Section 197 (3) of the Act was amended by the Companies (Amendment) Act, 2024, wherein a company having no profits or inadequate profits, can pay to all its …
Loss-making companies can now pay remuneration to …
WebApr 11, 2024 · ( i) the remuneration payable to any one managing director; or whole-time director or manager shall not exceed five per cent. of the net profits of the company and if there is more than one such director remuneration shall not exceed ten per cent. of the net profits to all such directors and manager taken together; WebSep 26, 2012 · You can give maximum 11% of net profit as remuneration to all manager/md/wtd etc. It seems 5000/- profit is inadequate as no MD (all of them together) will like to have Rs 550/- as their remuneration for whole hear. Sch XIII provides, you can give upto 4 lakh Rs p.m. as remuneration to each managerial personnel in case of inadequate … philippines night differential rate
Managerial Remuneration Schedule V Companies Act 2013
WebMar 20, 2024 · For companies having negative effective capital or less than ₹ 5 crore effective capital, the annual remuneration limit for non-executive directors is ₹ 12 lakh. WebNov 6, 2014 · The fact of Inadequacy of profit should be realized by the company concerned only after having arrived at the profit as per section 198 of companies Act 2013 that would not sufficient to pay managerial remuneration as per the agreed terms and conditions … WebApr 1, 2024 · Section 199 of the 2013 Act provides that where a company is required to re-state its financial statements due to fraud or non-compliance with any requirements under the Act, the company shall recover from any past or present managing directors, whole-time directors or manager or Chief Executive Officer (by whatever name called) who have … philippines nightlife 2022