MCA has amended Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 by introducing Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules 2016. There are broadly two amendments:
1. Now E-form MR 1 is NOT required to be filed for appointment of CEO, CS & CFO.
2. Disclosure requirements in Board's report relating to Directors and employees remuneration amended as under:
(i) Disclosures in Board's report by a Listed Company relating to comparision of remuneration of Directors and KMP to company's performance have been substantially reduced;
(ii) Board Report to state the name of top 10 employees in terms of remuneration drawn;
(ii) Board Report to provide details of employees whose salary is Rs 1.2 Crores p.a. / Rs 8.5 lacs p.m. (instead of employees whose salary is Rs 60 lacs p.a. / Rs 5 lacs p.m.).
Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2016 are available on the following weblink: b
Company Secretary GAURAV SHARMA+919990694230 Connect on Watts App with Gaurav Email us [email protected] Submit your guest articles for our website click here we will publish it Subscribe our Email updates like other 21,000 Members, Free/Easy/Comfortableway
Company Secretary GAURAV SHARMA+919990694230 Connect on Watts App with Gaurav Email us [email protected] Submit your guest articles for our website click here we will publish it Subscribe our Email updates like other 21,000 Members, Free/Easy/Comfortableway
