Clarification on Company's Director Reimbursement and Role?

[Mantosh Singh]

Hi Community Members,

Can you please guide me with the below-mentioned questions?

1. How many directors may get reimbursement from the Company?

2. Do the Director need to submit proof and how?

3. Director of the company can also work as an employee and get salary?

4. What kind of reimbursement is allowed for Directors?

Thanks in Advance for your help.

[YAGAY andSUN]

Please refer to Chapter – XI – Appointment and Qualification of Director (Section 149 to 172); Chapter – XII – Meeting of Board and its powers (Section 173 to 195) and Chapter - XIII - Appointment and Remuneration of Managerial Personnel (Section 196 to 205) of CA 2013 in this regard.

[Mantosh Singh]

Hi Team, I do not have that much knowledge in accounting. Can you please give me answers of above questions - it would really help me a lot.

AI Summary

Director reimbursement and dual employment: rules on allowable reimbursements, proof requirements, and eligibility for salary under corporate law Director reimbursement and entitlement to salary are governed by provisions on appointment and qualification of directors, board powers, and managerial remuneration. Payments to directors must be within authorised categories, approved by the board or shareholders as required, supported by documentation, and recorded; a director may be paid salary if formally appointed to an executive/managerial role and statutory remuneration and disclosure procedures are followed.