Director fund eligibility depends on whole-time bona fide employment and limited shareholding in the company. A director of a company may be admitted to the benefits of a fund only if the director is a whole-time bona fide employee and does not beneficially own shares carrying more than 5% of the total voting power. The rule applies where the employer is a company under the Companies Act, 2013, and limits fund membership for directors unless both employment and shareholding conditions are met.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Director fund eligibility depends on whole-time bona fide employment and limited shareholding in the company.
A director of a company may be admitted to the benefits of a fund only if the director is a whole-time bona fide employee and does not beneficially own shares carrying more than 5% of the total voting power. The rule applies where the employer is a company under the Companies Act, 2013, and limits fund membership for directors unless both employment and shareholding conditions are met.
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