Getting appointed as employee being a director in the same company
2 years ago
I am a director of a private ltd company(not a whole time director) can i be an employee of the same company and get monthly salary from the company.
A.Hi,
As per the Company's Act, you can be a director and an employee of the company. You will get remuneration for your service (can be monthly basis or quarterly as it depends on the company) but can not claim any deduction on salary in the name of provident fund or Employees State Insurance as per the Income Tax Act.
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As per the Company's Act, you can be a director and an employee of the company. You will get remuneration for your service (can be monthly basis or quarterly as it depends on the company) but can not claim any deduction on salary in the name of provident fund or Employees State Insurance as per the Income Tax Act.
If you like this response, please rate us. Thank you.
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