AMENDMENT IN COMPANIES (PARTICULARS OF EMPLOYEES) RULES
The Department of Company Affairs (DCA) has issued
a notification amending the Companies (Particulars of Employees)
Rules, 1975 with immediate effect. Accordingly, in Rule 1A, in
clause (a), for the words "twelve lakhs", the words 'twenty four
lakhs" have been substituted. In clause (b), for the words "one
lakh", the words "two lakhs" have been substituted. The amendment
in the impugned rules follows revision in the managerial remuneration
just doubling it by a notification issued recently in 2001-2002.
In terms of the Companies (Particulars of Employees) Rules, the
companies in the corporate sector are required to disclose the
particulars of employees in their annual report as also annual
balance sheet of profits and losses.
