ITC CMD Sanjiv Puri's remuneration up by over 51% to Rs 6.16 cr in 2018-19

Tata Consultancy Services CEO Rajesh Gopinathan took home a pay package of over ₹16 crore last fiscal, an increase of almost 28% compared to the previous year, the company's annual report showed.


 

Total Remuneration of diversified group ITC Chairman & MD Sanjiv Puri has gone up by over 51 per cent to Rs 6.16 crore in 2018-19.

 

Puri (56), who has been recently elevated as Chairman of the Kolkata-headquartered company after Y C Deveshwar passed away, took home Rs 4.06 crore in FY 2017-18.

 

As per ITC's 'Report and Accounts 2019' filed at bourses, Puri's remuneration includes a basic salary of Rs 1.44 crore along with perks of Rs 40 lakh and performance bonus of Rs 4.32 crore.


Moreover, the total number of employees getting a total salary of over Rs one crore in the company is now 91, ITC said in its Annual Report for FY 2018-19.

 

Deveshwar, who died in May this year, had received a remuneration of Rs 16.62 crore for FY 2018-19.Deveshwar, had received a total salary of Rs 29.85 crore in FY 2017-18.

 

India's one of the top software services exporters', Tata Consultancy Services (TCS), has over 100 crorepati employees. This means, the Mumbai-based IT major has over 100 employees who earn annual salary of more than Rs 1 crore. A quarter of these employees began their career from TCS only, reported The Economic Times.

 

By contrast, its rival Infosys has over 60 senior executives who earned above Rs 1 crore in FY 19.

 

Tata Consultancy Services CEO Rajesh Gopinathan took home a pay package of over ₹16 crore last fiscal, an increase of almost 28% compared to the previous year, the company's annual report showed.

 

Gopinathan's compensation included ₹1.15 crore in salary, ₹1.26 crore in perquisites, ₹13 crore in commission and over ₹60 lakh in other allowances - all of which added to a remuneration of ₹16.02 crore. In 2017-18, his compensation was ₹12.49 crore.

 

TCS chief operating officer N Ganapathy Subramaniam earned over ₹11.61 crore in FY19 as compared to ₹9.29 crore last fiscal. His pay package swelled 24.9% during the period.

 

Ramakrishnan V, TCS' chief financial officer, took home a ₹4.13 crore package in FY19.

 

The Mumbai-based company said the average annual increase during the fiscal was 6% in India.

 

"However, during the course of the year, the total increase is approximately 7.2%, after accounting for promotions and other event based compensation revisions," the annual report said.
 

However, unlike Infosys, TCS employees do not get stock-based incentives. Between 2016 and 2017, TCS had a total 91 crorepati employees, and by FY19, the number jumped to 103, excluding the compensation of CEO Rajesh Gopinath and COO NG Subramaniam and the executives who are based outside India.

 

Debashis Ghosh, the head of TCS' life sciences, healthcare and public services business, earned Rs 4.7 crore; Krishnan Ramanujam, head of business and technology services earned Rs 4.1 crore; and K Krithivasan, head of company's banking and financial services and insurance business, earned over Rs 4.3 crore per annum, added the daily.

 

The 72-year-old, Barindra Sanyal, Vice President for finance, is the oldest TCS employee who earns more than Rs 1 crore annually, while the youngest crorepati staff are in their early 40s. The data comprises salary, allowances, cash incentive, monetary value of perequisites as per income tax rules and companies contribution to provident fund and superannuation fund, the daily added.
 

Gopinathan's compensation included ₹1.15 crore in salary, ₹1.26 crore in perquisites, ₹13 crore in commission and over ₹60 lakh in other allowances
TCS chief operating officer N Ganapathy Subramaniam earned over ₹11.61 crore in FY19

 

ITC Executive Director N Anand's total remuneration stood at Rs 3.62 crore, while Executive Director & Chief Financial Officer R Tandon received Rs 3.20 crore, the report stated.


 


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