Increase in Remuneration

Section 310 provides that every increase in the remuneration of any director including a managing or whole-time director granted or provided by any

amendment in his term of appointment which has the effect of increasing, whether directly or indirectly, the amount payable to him would not be operative

unless the same has been approved by the Central Government. But no approval of the Central Government would be required if the increase in

remuneration made is in accordance with the conditions specified in Schedule XIII.

Any increase in the sitting fee payable to a director shall not require the prior approval of the Central Government if it falls within the prescribed limits.