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of <h1>Director Pay Hikes Need Government Approval Under Section 310; Meeting Fees Exempt If Within Limits</h1> Section 310 of the Companies Act, 1956 mandates that any increase in director remuneration for public companies or private subsidiaries of public companies requires government approval. This applies to changes in the company's memorandum, articles, agreements, or resolutions. Increases must comply with Schedule XIII conditions or receive Central Government approval, or they become void. Government approval is not needed for increases solely due to meeting fees, provided they do not exceed prescribed limits. For private companies converting to public companies, any excess meeting fee provision is considered a remuneration increase and requires government approval.
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