N Chandrasekaran earned more as TCS chief than Tata Sons chairman. Here’s how much his salary is
BI India BureauMar 31, 2017, 04.11 PM
Read full story
As per reports, Chandrasekaran will take home Rs 14.4 crore per year in salary and bonus. Besides, he will get a basic salary of up to Rs 4.8 crore a year with an additional variable component of 200%, or Rs 9.6 crore, based on his and the company's performance.
ET reported Chandrasekaran is eligible to get commission from the company.
As TCS chief, Chandrasekaran’s salary was Rs 25.6 crore in fiscal 2016 and an additional Rs 10 crore as part of a one-time special bonus the company announced that year. The payment included commission.
"Basic salary of Rs 20 lakh per month, up to a maximum of Rs 40 lakhs per month. If the board of directors considers it appropriate, an incentive remuneration not exceeding 200% of the basic salary as maybe declared by the board, in its entire discretion, from time to time, subject to such approvals as may be necessary" may also be paid," the document accessed by ET read.
“The executive chairman shall employ the best of his skills and ability and make his utmost endeavours to promote the interests and welfare of the company and its affiliates and to conform and comply with the policies and regulations adopted by the company and all such orders and directions as may be given to him from time to time by the board," the document said.