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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>New Guidelines for Managerial Remuneration: Fresh Consent Required, Gratuity and Perquisites Ceilings Set, Ex Gratia Prohibited.</h1> New guidelines for managerial remuneration, effective April 1, 1983, supersede those from 1978 and 1979. Companies must provide fresh consent for remuneration fixation under the new guidelines. Applications for increased remuneration must follow section 310 of the Companies Act, including a board resolution and public notice. The gratuity ceiling is now Rs. 75,000. Ex gratia payments are not allowed. A Rs. 45,000 ceiling applies to certain perquisites, excluding terminal benefits. House rent allowance is confirmed for self-arranged housing. Salary excludes commission for terminal benefits. The guidelines clarify the valuation of perquisites and housing-related allowances.
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