DIFFERNTIATE MEMBER AND A SHAREHOLDER
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Answer / balram gorak, corporate lawyer
Accordng to Black's Law Dictionary, 7th Edn., a Shareholder
means "one who owns or holds a share or shares in a
company, esp. a corporation.
Whereas a member means, a shareholder whose name is
registered in the Register of Members maintained by the
Company.
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My Gross salary was Rs.14500.00 in the month of Apr-12, And increment due in the month of April But somehow increment delays from management side and it was released in the month of May-12. Now my revised salary was Rs.17500.00, ESIC contribution deducts on Rs.17500.00 I.e. Rs.307.00 or it will be applicable on statutory salary limit of ESIC Rs.15000.00 I.e. Max ESIC contribution amount of Rs.263.00/Month. Please reply.
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