Govt. releases new norms for appointment of relatives in companies - April 11, 2011

The government has released norms for appointment of relatives in companies, a decision that will allow directors or managers to engage services of close ones without seeking permission of the Centre.

The government has released norms for appointment of relatives in companies, a decision that will allow directors or managers to engage services of close ones without seeking permission of the Centre. A company, however, will be required to seek the permission of the central Government if monthly payment made to relatives is more than Rs 2,50,000, the Corporate Affairs Ministry said in a notification.

Source: www.economictimes.com, April 11, 2011. “New norms on hiring relatives in companies”

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