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Managerial Remuneration - Company Management & Remuneration
Business Environment and Law-Company Management & Remuneration
Managerial Remuneration - Company Management & Remuneration
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The expression ‘managerial personnel’ refers to the (a) managing director. (b) Whole-time / part-time directors, or (c) Manager.
Managerial
Remuneration
The expression ‘managerial personnel’ refers to the (a) managing director. (b) Whole-time / part-time directors, or (c) Manager.
Remuneration not to exceed 11 per cent: The total managerial remuneration of the directors and the manager in respect of any financial year shall not exceed 11 per cent of the net profit of the company for that financial year computed in the manner laid down in Sec. 349 and 350.
1. Number of meetings – once in every 3 months (Sec.
285).
2. Notice of meetings (Sec. 286): Every officer of the company whose duty is to give notice and who fails to do so shall be punishable with fine which may extend to Rs.1,000.
Managerial Personnel:
The expression ‘managerial personnel’ refers to the (a) managing director. (b) Whole-time / part-time directors, or (c) Manager.
Overall Maximum Managerial Remuneration (Sec. 198):
Remuneration not to exceed 11 per cent: The total managerial remuneration of the directors and the manager in respect of any financial year shall not exceed 11 per cent of the net profit of the company for that financial year computed in the manner laid down in Sec. 349 and 350.
Meetings Of Directors (Sec. 285 To 288)
2. Notice of meetings (Sec. 286): Every officer of the company whose duty is to give notice and who fails to do so shall be punishable with fine which may extend to Rs.1,000.
3. Quorum for meetings (Sec.287): The quorum shall be
1/3rd of its strength or 2 directors, whichever is higher.
Tags : Business Environment and Law-Company Management & Remuneration
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