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130Schedule forming part of the Accounts for the year ended 31st March, 2011SCHEDULE ‘N’ (Condt.)(` in ‘000)Year Ended 31.03.2011 Year Ended 31.03.201019.1 Managerial Remunerationa) Executive Directorsi) Salaries and Allowances 11,098 -ii) Contribution to Funds :Provident Fund 1,152 -Superannuation Fund 596 -Gratuity Fund 224 -1,972 -iii) Estimated value of benefits computed wherenecessary under Income Tax Rules. 11,989 -iv) Commission 16,054 -b) Non Executive Directorsi) Sitting Fees 60 -ii) Commission 800 -41,973 -(` in ‘000)Year Ended 31.03.2011 Year Ended 31.03.201019.2 Computation of Net Profits under Sections 198 and 349 of the Companies Act, 1956Profit before taxation as per Profit & Loss Account 337,977 -Add : Directors’ Remuneration :Sitting Fees 60 -Salaries, Commission and estimated value of other benefits 41,913 -41,973 -Depreciation and Amortization charged to Accounts 141,390 -521,340 -Deduct : Depreciation under Section 350 of the Companies Act, 1956. 53,185 -The excess of expenditure over income computed as per 51Sec-349 in respect of earlier yearsAdjusted Profit in accordance with Section 198 of the Companies Act, 1956. 468,104 -10% there of, being the maximum permissible limit under section 198 of the Companies46,810 -Act,1956.Executive Directors Commission restricted (As per service agreement) 16,054 -1% there of, being the maximum permissible limit under section 198 of the Companies4,681 -Act,1956.Other Directors’ Commission restricted to 800 -