Certain queries regarding terms “remuneration” and “last employment held” and other matters connected therewith clarified - Companies Law - Circular: No. 16 of 1990,

Circular: No. 16 of 1990, dated 22 10 1990. Board s report - Companies (Particulars of Employees) Rules, 1975 Certain queries regarding terms remuneration and last employment held and other matters connected therewith clarified Under section 217(2A) of the Act, companies were required to disclose in the directors report the particulars of employees drawing a monthly salary of Rs. 3,000 per month (Rs. 36,000 if employed throughout the financial year). The said monetary ceiling was revised upwards to Rs. 6,000 per month with effect from June 15, 1988. The ceiling has since been raised to Rs. 12,000 per month with effect from September 18, 1990. The said upward revision of Rs. 12,000 per month will apply in respect of directors reports annexed to those balance sheets, the financial year in respect of which has closed on or after September 18, 1990.