Azim Premji's paycheck dips over 55% in FY15 to Rs 4.9 crore

Wipro Chairman and IT czar Azim Premji's compensation fell by more than half to USD 7,67,685 (about Rs 4.90 crore) in the last fiscal, while that of company's CEO T K Kurien stood at USD 1.46 million (about Rs 9.3 crore) during the year.

New Delhi: Wipro Chairman and IT czar Azim Premji's compensation fell by more than half to USD 7,67,685 (about Rs 4.90 crore) in the last fiscal, while that of company's CEO T K Kurien stood at USD 1.46 million (about Rs 9.3 crore) during the year.

Premji took home a total package of USD 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 percent 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 USD 69,173 in salary and allowances, USD 5,13,296 in commission, USD 91,452 (other heads) and USD 93,764 as long-term compensation (deferred benefit).

The filing said the pay package of Wipro's former CFO Suresh Senapaty increased marginally to USD 5,41,561 in the said fiscal. He retired this year.

Wipro CEO T K Kurien's total package stood at USD 1.46 million (about Rs 9.3 crore) in FY2014-15 compared to USD 1.09 million in the previous fiscal, a hike of over 33 percent.

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.

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