Director Remuneration in Sec 8 Co

Ramaswami Mohan

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Mar 13, 2017, 10:47:43 AM3/13/17

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Can Sec 8 Company ( NOT FOR PROFIT CO ) pat remuneration to its Working Director ?

pl share ur views.

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CS. R. Mohan
Mobile: 9908814677

B.N. Pandit

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Mar 13, 2017, 11:23:45 AM3/13/17

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Hi,

Pls note that where Working Director is not a Promoter in the company, Sec 8 Company can pay remuneration to its Working Director.

In case of Section 8 Company, Director cum Promoter is entitled to get out of pocket expenses only.

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B.N.Pandit

Peer Mehboob

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Mar 13, 2017, 11:30:17 AM3/13/17

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Yes, Sec.8 company like any other company can pay remuneration to its employees. The only condition for Sec.8 company is that these companies cannot utilise its profit except in promoting its object and cannot pay dividend to its members.

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Ramaswami Mohan

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Mar 13, 2017, 12:03:51 PM3/13/17

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Thank you Mr.Pandit & Mr Peer Mehboob.

But in the case of Pvt Co where the promoter will be the working director as well, then also will the same condition apply ? pl clarify,

regards,

Mohan

B.N. Pandit

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Mar 14, 2017, 9:37:26 AM3/14/17

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Hi,

In case of normal Pvt. Co. (other than section 8 Company), the same condition will not apply.

Regards!

B.N.Pandit

On Monday, March 13, 2017 at 9:33:51 PM UTC+5:30, CS Mohan R wrote:

Thank you Mr.Pandit & Mr Peer Mehboob.

But in the case of Pvt Co where the promoter will be the working director as well, then also will the same condition apply ? pl clarify,

regards,

Mohan

On 13 March 2017 at 21:00, Peer Mehboob <peerme...@gmail.com> wrote:

Yes, Sec.8 company like any other company can pay remuneration to its employees. The only condition for Sec.8 company is that these companies cannot utilise its profit except in promoting its object and cannot pay dividend to its members.

On 13 March 2017 at 20:17, Ramaswami Mohan <hkr....@gmail.com> wrote:

Can Sec 8 Company ( NOT FOR PROFIT CO ) pat remuneration to its Working Director ?

pl share ur views.

--
CS. R. Mohan
Mobile: 9908814677

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