Remuneration of manager :
Section – 387. The manager of a company may, subject to the provisions of , receive remuneration either by way of a monthly payment, or by way of a specified percentage [* * *] of the “net profits” of the company calculated in the manner laid down in sections [and ], or partly by the one way and partly by the other :
[Provided that except with the approval of the Central Government such remuneration shall not exceed in the aggregate five per cent of the net profits.