Business
According to a US SEC filing, the billionaire was paid a commission at the rate of 0.3% on incremental net profits of Wipro over the previous year computed based on the method approved by the Board Governance, Nomination and Compensation Committee.
Updated : Mar 20, 2018, 02:27 AM IST
Wipro Chairman and IT czar Azim Premji's compensation fell by more than half to US $7,67,685 (about Rs 4.90 crore) in the last fiscal, while that of company's CEO T K Kurien stood at US $1.46 million (about Rs 9.3 crore) during the year.
Premji took home a total package of US $1.70 million (about Rs 10.91 crore) in the previous financial year.
According to a US SEC filing, the billionaire was paid a commission at the rate of 0.3% on incremental net profits of Wipro over the previous year computed based on the method approved by the Board Governance, Nomination and Compensation Committee.
During the fiscal, Premji was paid US $69,173 in salary and allowances, US $5,13,296 in commission, US $91,452 (other heads) and US $93,764 as long-term compensation (deferred benefit).
The filing said the pay package of Wipro's former CFO Suresh Senapaty increased marginally to US $5,41,561 in the said fiscal. He retired this year.
Wipro CEO T K Kurien's total package stood at US $1.46 million (about Rs 9.3 crore) in FY2014-15 compared to US $1.09 million in the previous fiscal, a hike of over 33%.
Vishal Sikka, CEO of Wipro's larger rival Infosys, was given a compensation of Rs 4.56 crore, making him one of the highest paid CEOs in the country.
Sikka's salary included a base salary of Rs 4.41 crore and retital benefits of Rs 109,147,3230.15 crore in fiscal 2015.