MCA Amends Director’s Remuneration Limits

mca

Ministry of Corporate Affairs (MCA) has issued a notification regarding restriction on remuneration payable to Independent directors.

As per the notification, prescribed remunerations are as follows:

1 2 3
Sl.no.

Where the effective capital

Limits of yearly remuneration payable shall not exceed in case of a managerial person

Limits of yearly remuneration payable shall not exceed in case of other director

a.

Negative or less than Rs 5 crores

Rs 60 lakhs

Rs 12 lakhs

b.

Rs 5 crore and above but less than Rs 100 crores

Rs 84 lakhs

Rs 17 lakhs

c.

Rs 100 crore and above but less than Rs 250 crores

Rs 120 lakhs

Rs 24 lakhs

d.

Rs 250 crores and above

Rs 120 lakh + 0.01% of the effective capital in excess of Rs 250 crores

Rs 24 lakh + 0.01% of the effective capital in excess of Rs 250 crores

 

MCA

Click here for official notification:


Knowledge Source:

Experts Committee Formed for Start-up Seed Fund Scheme

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