Appointment of Chief Financial Officer
Listed companies, public companies with paid-up share capital of Rs. 10 crore or more, and other prescribed companies are required to appoint a CFO as a Key Managerial Personnel.
Every seat on your board comes with its own paperwork. Section 203(1) governs exactly how this plays out. What that means day to day: appointed by Board resolution stating terms and conditions including remuneration (Sec 203(2)). This is exactly the kind of resolution Fi CTC Generator was built to make effortless.
Form MR-1 must be filed with the ROC within 60 days of appointment. A company cannot have more than one CFO.
Section 203(1), Rule 8, Companies (Appointment and Remuneration) Rules, 2014
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