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Can a whole time director be paid sitting fees for attending board / committee meeting. If yes, would the same be treated as part of his managerial remuneration for the purpose of the limits prescribed under the act.

Remuneration to KMP

Posted By: Arun kumar 10 year(s) ago

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Expert Ankit Singhi

Legally there is no such restriction but giving sitting fees to whole time director is not ethical as he is in the whole time employment of company getting salary. Yes it is included the limit of 11% of net profit but in the individual limits of 5 or 10% as the case may be

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