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Mr. A is an MD in the Holding Company and Subsidiary Company. But Mr. A is getting managerial remuneration from Holding Company. He is not getting anything from Subsidiary Company except for sitting fees. He now intends to get salary from Subsidiary Company also. Going forward, Mr. A is getting the maximum salary from Holding Company in terms of Section V of Part II of Schedule V of the Companies Act, 2013. Can he still be paid salary from Subsidiary Company by filing an application with the Central Government. Please advise.

Remuneration to KMP

Posted By: Anil 9 year(s) ago

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Expert Ankit Singhi

the salary received from both the companies shall not exceed the highest maximum limit of any one company

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Anil

sIR, Mr. A is getting the maximum salary from Holding Company. In case case even if he draws Rs. 10 also from the subsidiary company, it will exceed the limits. But can we go for Central Government application in this regard?Please advise.

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