| (1) | (2) | (3) | |
| SL No. | Where the effective capital (in rupees) is | Limit of yearly remuneration payable shall not exceed (in Rupess) in case of a managerial person | Limit of yearly remuneration payable shall not exceed (in rupees) in case of other director |
| (i) | Negative or less than 5 crores | 60 lakhs | 12 lakhs |
| (ii) | 5 crores and above but less than 100 crores | 84 lakhs | 17 Lakhs |
| (iii) | 100 crores and above but less than 250 crores | 120 lakhs | 24 Lakhs |
| (iv) | 250 crores and above | 120 lakhs plus 0.01% of the effective capital in excess of Rs. 250 crores | 24 Lakhs plus 0.01% of the effective capital in excess of Rs.250 crores.” |
(c) in Section III, –
(i) after the words ―managerial person‖, wherever occurred, except in clause (i) of the proviso, the words ―or other director” shall be inserted;
(ii) after the words ―managerial persons”, wherever occurred, the words ―or other directors” shall be inserted;
(iii) following explanation shall be inserted at the end, namely:-“Explanation.–For the purposes of Section I, Section II and Section III, the term ―or other director” shall mean a non-executive director or an independent director.”
[F.No. 1/5/2013-CL-V]
K.V.R.MURTY, Jt. Secy.Note :
The Schedule V of the Companies Act, 2013 came into force with effect from the 1st April,2014 and was last amended vide notification number S.O. 4822(E) dated 12.09.2018 published in the Gazette of India
Download Notification Click Here >>
- Fraud & deception not trade and business and money accumulated is proceeds of crime
- ICAI extends last date to submit MEF for FY 2025-26 to 10th October, 2025
- ICAI defers Guidance Note on Financial Statements of Non-Corporate entities/LLPs
- Delhi Govt. to help persons with benchmark disabilities with high support need
- Placing Genset in steel container fitted with additional parts amounts to manufacture
