PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART II SECTION 3 SUB-SECTION (i) on 24.3.2004
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Company Affairs)
New Delhi, the 24.3.2004
NOTIFICATION
G.S. R. 212 (E). – In exercise of the powers conferred by sub-section (2A) of section 217 read with clause (a) of sub-section (1) of section 642 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules further to amend the Companies (Particulars of Employees) Rules, 1975, namely:-
(1) These rules may be called the Companies (Particulars of Employees Amendment) Rules, 2004.
(2) They shall come into force on the date of their publication in the Official Gazette.
In rule 2, –
(i) the provisions of the existing rule shall be numbered as sub-rule (1) of the rule;
(ii) after sub-rule (1), as so numbered, the following shall be inserted, namely:-
“Provided that particulars of employees of companies engaged in “Information Technology” sector, posted and working in a country outside India, not being directors or their relatives, drawing more than rupees twenty four lakh per financial year or rupees two lakh per month, as the case may be, shall not be included in such statement of the Board’s report but such particulars shall be furnished to the Registrar of Companies:
Provided further that such particulars shall be made available to any shareholder on a specific request made by him during the course of annual general meeting in which the same is considered.
(2) For the purposes of this rule, “Information Technology” shall comprise of the activities mentioned in clause (iii) to Explanation 2 to para 2.2.2 of Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000.”.
[F. No. 2/29/98-CL.V]
