Managerial remuneration exemption for nidhis and mutual benefit societies: no whole-time manager, directors' pay within profit cap, special resolution. Exemption from Central Government approval under section 309(4) for managerial remuneration of nidhis and mutual benefit societies is permitted where the entity lacks a managing director, whole-time director, or manager; aggregate directors' remuneration in a financial year does not exceed a ceiling tied to net profits or a lower monetary cap; and such remuneration is approved by a special resolution of the nidhi or mutual benefit society.