Director eligibility for fund benefits depends on whole-time employment and limited shareholding ownership. A director of a company may receive benefits from the fund only if the director is a whole-time bona fide employee and does not beneficially own shares ... Summary
Director eligibility for fund benefits depends on whole-time employment and limited shareholding ownership.
A director of a company may receive benefits from the fund only if the director is a whole-time bona fide employee and does not beneficially own shares carrying more than 5% of the company's total voting power. The rule makes fund admission for directors conditional on both active employment status and limited shareholding, thereby excluding directors who do not satisfy these eligibility requirements.
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