The Ministry of Corporate Affairs through notification dated 18th March, 2021 has revised the limit of yearly remuneration of a managerial person and other directors
- Where the effective capital of a company is negative or less than 5 crores, the limit of yearly remuneration of a managerial person shall be 60 lakhs and limit of yearly remuneration payable shall not exceed 12 lakhs in case of other directors.
- Where the effective capital of a company is 5 crores and above but less than 100 crores, the limit of yearly remuneration of a managerial person shall be 84 lakhs and limit of yearly remuneration payable shall not exceed 17 Lakhs in case of other directors.
- Where the effective capital of a company is less than 100 crores and above but less than 250 crores, the limit of yearly remuneration of a managerial person shall be 120 lakhs and limit of yearly remuneration payable shall not exceed 24 Lakhs in case of other directors.
- Where the effective capital of a company is 250 crores and above the limit of yearly remuneration of a managerial person shall be 120 lakhs plus 0.01% of the effective capital in excess of Rs.250 crores and limit of yearly remuneration payable shall not exceed 24 Lakhs plus 0.01% of the effective capital in excess of Rs.250 crores.
