Psu employee working as director in a pvt. ltd. company

No. A PSU or a government employee cannot take up any position in any profit-centre because there may be a conflict of interest. But a psu/govet.centre can take up non-profit position in a non-profit organisation with the prior written approval of the employer/deptt.concern.

Please check the terms and conditions of appointmewnt of the PSU employee.

Since he is not holding any share of the company, can he state that he is not getting any share of proft of company.He can also state that he is not getting any type of remuneration

There are only two directors in the company, first is the wife of PSU employee and second is the employee himself.

It appears that the PVT ltd company was formed by PSU employee only to promote his wife business. If the shareholding is lying with any other family member or wife, risk always lying on, he is treated as indirect beneficary in profit.    

if PSU employee work as director in pvt ltd company, then he is violating service rules.