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Companies Act, 1956-Clarification on directorship, perquisites and gratuity and contribution to provident fund, etc
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....sp; All India Chambers of Commerce and Industry. Sir, Subject: Companies Act, 1956-Clarification on directorship, perquisites and gratuity and contribution to provident fund, etc. The following clarification are hereby issued for information of your constituent members:- SECTION 257: In terms of section 257, as amended by the Companies (Amendme....
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....case of persons posted at Bombay, Calcutta, Delhi and Madras, perquisites shall be restricted to an amount equal to the annual salary or Rs. 1,35,000 per annum, whichever is less. In the case of persons posted at other places, perquisites shall be restricted to an amount equal to the annual salary or Rs. 1,15,000 per annum, whichever is less. Category "B" Contribution to provident fund, supe....