Reappointment means appointment to a classification previously held by an employee who was reassigned to a different classifica- tion. Reappointment means the renewal of a Limited Term Appointment, in accordance with the provisions set out in section 3. It may include a change of stream.

Does managerial remuneration include sitting fees?

The MCA has clarified that payment of sitting fees to managing or whole-time directors is a part of managerial remuneration and in case of schedule XIII appointment, no such fees is payable in the absence of any provision therein.

What comes under managerial remuneration?

According to the provisions of Section 197 of the Companies Act 2013 the overall remuneration paid by the public company to its directors including managing director and wholetime director and its manager in relation to the financial year shall not exceed 11 % of net profits of the company.