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Query: Can Directors take Salary / Income from company

Category: Corporate Law

Answer: A director can receive an income or payment from company in following ways 1. Directors’ Salary If the company also employs you in a role other than a director, it can pay you a salary like any other employee. It is also required to pay you the superannuation guarantee that is currently at the rate of 9.5%. 2. Directors’ Fees Directors’ fees are compensation for services performed as director of company. Director is entitled to receive directors’ fees, if he is : • not also an employee of the company; and • satisfy certain procedural requirements. For example directors are paid sitting fees for attending Board meetings. 3. Payment Through Dividends Companies declare Dividends for their shareholders and Directors are entitled to receive dividends if they hold shares.

Date Posted 26-Dec-2019
Posted By Divya Sharma
Views: 477



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