CLR Note: MCA has notified the effective date for Effective Date for Companies (Particulars of Employees) Amendment Rules, 2011 as 1st April, 2011 i.e. all Directors’ Reports approved after 1st April, 2011, irrespective of the accounting year, shall be in accordance with the Amendment Rules. The Amendment Rules had increased the limit of disclosure of Particulars of Employees from Rs. 24 lakhs to Rs. 60 Lakhs.
General Circular No. 23/20 1 1; Government of India- Ministry of Corporate Affairs; Dated: 03.05.20 1 1
All Regional Directors; All Registrar of Companies
Sub: Clarification regarding effective date of Companies (Particulars of Employees) Amendment Rules, 2011 – reg
The Ministry had notified Companies (Particulars of Employees) Amendment Rules, 20 1 1 vide GSR 289 (E) dated 3 1.03.20 1 1 raising the limit of employee’s salary to be disclosed in Directors Report.
2. In this regard, it is clarified that the said notification shall be applicable to all Director’s Reports under section 217 of the Companies Act, 1956 approved by the Board of Directors on or after 1.4.201 1, irrespective of the accounting year of the annual account, being approved by the Board.
Yours faithfully,
Monika Gupta -Assistant Director
