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This has to do basically with demand and supply.
In the labour market the price that correspond to demand and supply of labour is wage, because (1)it takes time for one to become a good manager,
(2)managers are in short supply hence, the price (wage) paid them are higher than that of a cleaner.
(3) Also,the demand for good managers are higher than cleaners hence, higher wage is paid managers
(4)Again, Managers are able to negotiate for better remuneration ,
(5)Managers have higher level of eduction than cleaners therefore are paid more
(6)Even though Cleaners work very hard they use physical strength, but the manager uses his brain which involves more thinking that can not be quantify easily, hence they are paid something higher to compensate for using the brain.
(7) Managers have other special skills like computer skills cleaners may not have
(8) A Manager will always be paid more than the a cleaner because managers manages cleaners.
What else can I help you with?
What do the company Managing Innovation do?
The company Managing Innovation does many things. Examples of things that the company Managing Innovation does includes helping companies perform their jobs in a more effective fashion and reconstructing technologies.
Which Companies are required to appoint a Director?
Section 203 mandates the appointment of a managing director, manager, or full-time director, a company secretary, and a chief executive for every listed company, any public company with paid-up share capital of more than 10 crores, or a company not falling under the aforementioned two but with paid-up share capital of more than 5 crores. Every corporation is supposed to have a board of directors, and this board should be made up of real people rather than a manufactured one. The minimum number of directors a business must have is specified in Section 149 as follows: #A public company must have three directors. #At least two directors for a private firm #One-person business: At least one director # A maximum number of directors is 15. After adopting a special resolution, a business is permitted to select more than 15 directors.
Sue a company as an investor?
If you are asking if it is possible then yes it is. Or more probably the directors.
What is the title of the person in charge of a company?
A company is a business structure which has legal status as an entity in its own right. A group of people called directors are responsible for running the company. One or more of these might be a managing director. To a lesser extent, the shareholders are also in charge of a company - it is their invested funds which allow the company to function and they have an interest in how the company is run because the company needs to succeed for them to see a return on their investment.
Can a company appoint managing director and manager simultaneously?
Information provided by Legalpund = Can a Company appoint a Managing Director and a Manager at the same time? = No company can appoint or employ, at the same time, or, continue the appointment or, employment at the same time, of a Managing Director, as well as a Manager. But, there is no legal prohibition against having a Whole Time Director and Manager, simultaneously, or, Managing Director and whole-time Director, simultaneously. Again, there is no prohibition on a company having more than one Managing Director. This section applies to all companies, public and private. As per provisions of this section a company cannot apply both managing director and manager at the same time. The term " managing director" and "manager" has been defined in section 2(26) and 2(24) respectively. "managing director is a director who is entrusted with "substantial" powers of management which would not otherwise be exercisable by him. From the definition of managing director it appears that the company may entrust "substantial" power of management to one or more directors and therefore a company may have more than one managing director.Further the expression MANAGING DIRECTOR shall also include a director occupying the position of managing director, by whatever name called.For instance, President, CEO , chief operating officer, etc. in the case of MNCs shall be considered as the MANAGING DIRECTOR for the purpose of COMPANIES ACT, although they are not designated as such.
What is the permissible managerial remuneration payable under the Companies Act 2013?
• Overall management compensation payable by a public business to its directors, managing director, and full-time director, as well as its manager, for each fiscal year: Condition Max Remuneration in any financial year Company with one Managing director/whole time director/manager 5% of the net profits of the company Company with more than one Managing director/whole time director/manager 10% of the net profits of the company Overall Limit on Managerial Remuneration 11% of the net profits of the company Remuneration payable to directors who are neither managing directors nor whole-time directors For directors who are neither managing director or whole-time directors 1% of the net profits of the company if there is a managing director/whole time director If there is a director who is neither a Managing director/whole time director 3% of the net profits of the company if there is no managing director/whole time director The aforementioned percentages are exclusive of any fees due under section 197. (5). Prior to this point, any managerial compensation over 11% required government approval. Yet, a public business may now pay its managerial staff compensation in excess of 11% without prior clearance from the Central Government. The shareholders’ approval of a special resolution will suffice. If a corporation has defaulted on its obligations or failed to fulfil its obligations, authorization from the lenders will be required. When a corporation has insufficient or no profits: In the event that a corporation has insufficient or no earnings in any fiscal year, no compensation shall be paid unless these rules are met. Where the effective capital is: Limits of yearly remuneration Negative or less than 5 Crores 60 Lakhs 5 crores and above but less than 100 Crores 84 Lakhs 100 Crores and above but less than 250 Crores 120 Lakhs 250 Crores and above 120 Lakhs plus 0.01% of the effective capital in excess of 250 Crores
What is the Eligibility Criteria for Section 8 Company Registration in India?
Following is the eligibility criteria for Section 8 Company Registration in India: At least 1 Director is required and he or she should be a resident of {cityName} At least 1 Director is required and he or she should be a resident of India HUF, an individual is eligible to commence a Section 8 Company in {cityName} HUF, an individual is eligible to commence a Section 8 Company in India The objective of the Company should be one or more of the following – the advancement of science & art, social welfare, promotion of sports/arts, and financial support to lower-income groups The objective of the Company should be one or more of the following – the advancement of science & art, social welfare, promotion of sports/arts, and financial support to lower-income groups 2 or more individuals who will act as Directors/Shareholders should fulfill all the compliance & requirements of the Section 8 Company Registration under the Companies Act 2 or more individuals who will act as Directors/Shareholders should fulfill all the compliance & requirements of the Section 8 Company Registration under the Companies Act Directors, founders, and Members Directors of the Company cannot draw any remuneration in any form of cash or kind Directors, founders, and Members Directors of the Company cannot draw any remuneration in any form of cash or kind No profit should be shared or distributed among the Directors & members of the Company indirectly/directly No profit should be shared or distributed among the Directors & members of the Company indirectly/directly
What is the eligibility Criteria for Section 8 Company Registration?
Following is the eligibility criteria for Section 8 Company Registration in India: At least 1 Director is required and he or she should be a resident of {cityName} At least 1 Director is required and he or she should be a resident of India HUF, an individual is eligible to commence a Section 8 Company in {cityName} HUF, an individual is eligible to commence a Section 8 Company in India The objective of the Company should be one or more of the following – the advancement of science & art, social welfare, promotion of sports/arts, and financial support to lower-income groups The objective of the Company should be one or more of the following – the advancement of science & art, social welfare, promotion of sports/arts, and financial support to lower-income groups 2 or more individuals who will act as Directors/Shareholders should fulfill all the compliance & requirements of the Section 8 Company Registration under the Companies Act 2 or more individuals who will act as Directors/Shareholders should fulfill all the compliance & requirements of the Section 8 Company Registration under the Companies Act Directors, founders, and Members Directors of the Company cannot draw any remuneration in any form of cash or kind Directors, founders, and Members Directors of the Company cannot draw any remuneration in any form of cash or kind No profit should be shared or distributed among the Directors & members of the Company indirectly/directly No profit should be shared or distributed among the Directors & members of the Company indirectly/directly
Are subsequent directors elected by the board of directors?
after the company's first directors have been appointed, it may be necessary to make new appointments either to fill the vacancy when the director vacates office or to increase the size of the board by appointing one or more additional directors. The members of a company appoints a person by ordinary resolution to be a director. Theseus Exploration NL v Mining & Associates Industries Ltd 1973
The board of directors are elected by the?
after the company's first directors have been appointed, it may be necessary to make new appointments either to fill the vacancy when the director vacates office or to increase the size of the board by appointing one or more additional directors. The members of a company appoints a person by ordinary resolution to be a director. Theseus Exploration NL v Mining & Associates Industries Ltd 1973
What is the relationship between the board of directors and the chief officers?
The directors make more money.
What is the role of a managing director?
The role of a Managing director is to manage the whole corporation and direct the organisation to meet the over aims and objectives.The skills needed:effective communicationexcellent leadership and managementable to interact with anyonehave critical thinkinggood with problem solvingEducation wise;should have a masters or bachelor's degree in business studies or business administration.The age of the managing director can change in the future, but far more experience and as technology is coming apart of organisations therefore the managing directors will need to have more skills using technology like ICT equipment, camera meetings and better leaderships skills as the managing director will of gained them.
