New Delhi: Tata Consultancy Services (TCS) CEO and MD Rajesh Gopinathan’s salary surged by 53% in the financial year 2021, as he took home a pay package of about Rs 20.36 crore in FY21.
Gopinathan received Rs 1.27 crore in salary, Rs 2.09 crore in benefits, perquisites and allowances, and a whopping Rs 17 crore in commission. In the financial year 2019-20, he had received a total remuneration of Rs 13.3 crore, according to TCS annual report for FY21.
In comparison, Infosys chief Salil Parekh earned Rs Rs 34.67 crore in the Financial Year 2020. Former Wipro former CEO Abidali Neemuchwala had made Rs 34 crore in the same period. The annual pay of Wipro’s current CEO Thierry Delaporte is Rs 37.9 crore, along with stock compensation and other perks.
Meanwhile, the Chief Operating Officer of TCS, N Ganapathy Subramaniam raked in Rs 16.1 crore in the last financial year. His remuneration includes Rs 1.21 crore in salary, Rs 1.88 crore in benefits, perquisites and allowances, and Rs 13 crore in commission.
"Increase in the managerial remuneration for FY2021 is not comparable with FY2020 owing to decrease in remuneration of 15 per cent in FY2020 in view of the economic conditions impacted by the COVID-19 pandemic wherein the Directors had decided to moderate the executive remuneration for FY2020 to express solidarity and conserve resources," the annual report said.
The increase in the managerial remuneration for FY21 stood at 55.22 per cent. In comparison, the average annual increase in salaries was 5.2% in the last financial year in India.
TCS Chairman N Chandrasekaran said the company sees immense opportunities for growth, riding the new technology cycle that has kicked off, powered by the belief that its differentiated capabilities and collaborative, solution-centric approach makes it the preferred transformation partner of its customers.
The report said the percentage increase in the median remuneration of employees in FY2021 was 0.03 per cent. TCS' permanent employee base was at 4,48,649 at the end of 2020-21 fiscal year.
- with inputs from PTI.
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