Reports of Board of Directors of Companies – Statement showing details of employees drawing remuneration beyond prescribed limits-Clarification
General Circular No. 16/2002
Government of India
Ministry of Law, Justice & Company Affairs
Department of Company Affairs
5th floor, `A’ Wing, Shastri Bhavan,
Dr. R.P. Road, New Delhi.
All Regional Directors
All Registrars of Companies
Subject: Reports of Board of Directors of Companies – Statement showing details of employees drawing remuneration beyond the prescribed limits – Clarification
I am directed to draw attention to General Circular No: 10/2002 dated 26.4.2002 of this Department through which, inter-alia, the Notification No: GSR 288(E) dated 17.4.2002 regarding revision of limits in respect of employees to be covered under Statement to be attached with the report of the Board of Directors pursuant to section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975, was circulated. It was clarified through that Circular that such revision will apply in respect of Directors’ Reports annexed to those Balance Sheets, the financial year in respect of which has closed on or after 17.4.2002.
2. The matter regarding application of such revision also in respect of Directors’ Reports annexed to the Balance Sheets, the financial year in respect of which was closed prior to 17.4.2002, has been examined in the Department. A decision has been taken that Directors’ Reports annexed to the Balance Sheets, the financial year in respect of which has closed on 31.3.2002 may include details of employees on the basis of revised limits.
3. The receipt of this Circular may kindly be acknowledged.
Under Secretary to the Government of India