Can I become a director of own Company being employed in diff. company

I am working in a MNC. My salary has a component of EPF and is being deducted every month. I am planning to register my own company as OPC. But due to financial liabilities, I have to continue current employment to feed my household and new venture. So, can I hold a director position in my Own Company at the same time. If I cannot hold such position, then can my wife hold a director position. As she is also working in some company, but her EPF is not deducted. Please suggest.

Answers (3)

251 votes

Yes you can become a director in any company irrespective of your employment with another company subject to their being no restrictions on you holding the director post in any other company in your employment agreement entered into with the company you are employed.

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133 votes

holding the position of a director is not a problem, unless your terms of employment prohibit it. however, working as an employee in your company will be a problem as you cannot be employed at two places. and yes, there is no problem in your wife being a director. to avoid any problems, it is safer that your wife and not you is a director.

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As long as there is no non-compete clause in your employment contract in between you and your current employer you can have a new company of your own wherein you can become the director of that company and at the same time you can run the company as well as continue with your job.

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