Private Limited Company.
4 Directors. 2 of those directors hold shares 65% and 35% respectively.
Only one the 4 directors is a whole time director. Others are just inert directors.
This one director is appointed the Managing Director and also handles business and consultancy for the company.
1. How much salary per month or per annum can this whole time director draw as per Companies Act 2013?
2. There is no mention of a ceiling of salary in articles of association. If so how much salary can the director draw per month?
3. Is if mandatory to have a ceiling of salary mentioned in the articles of association?
4. Say there is a legal ceiling of 1lakh per month. Then as the Managing Director, he can draw 1lakh per month and then take separate consulting and business salary or is there a ceiling for the maximum a director can draw from the company cumulatively per month?
Would appreciate any and all inputs.
Thanks in advance.
