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of <h1>Central Government Amends Schedule XIII of Companies Act, 1956: New Managerial Remuneration Limits Based on Effective Capital</h1> The Central Government has amended Schedule XIII of the Companies Act, 1956, specifically substituting paragraph 1 of section II of Part II concerning managerial remuneration. If a company has no profits or inadequate profits in a financial year, it can pay remuneration to managerial personnel up to Rs. 24,00,000 annually or Rs. 2,00,000 monthly. The permissible monthly remuneration varies based on the company's effective capital: Rs. 75,000 for less than Rs. 1 crore, Rs. 1,00,000 for Rs. 1-5 crores, Rs. 1,25,000 for Rs. 5-25 crores, Rs. 1,50,000 for Rs. 25-100 crores, and Rs. 2,00,000 for Rs. 100 crores or more.
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