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HCL Tech stated in its just lately launched annual report that it awarded its Chief Executive Officer (CEO) C. Vijaykumar compensation of Rs 123.13 crore final 12 months. This makes Vijayakumar at present the highest paid Indian CEO. The firm clarified that three-quarters of Vijayakumar’s earnings is included in long-term advantages.

“Mr. C. Vijayakumar did not receive any compensation from the Company, however, he did receive compensation [Including Long-term Incentive (“LTI”)] of USD 16.52 million (equivalent to Rs 123.13 crores) from HCL America Inc., a gradual wholly owned subsidiary of the company,” the firm said in the annual report.

The report said that Vijayakumar earned an annual base wage of US$2 million and a further US$2 million in variable compensation. He additionally obtained $0.02 million in fringe advantages and different advantages for the 12 months ended March thirty first. HCL added that the $12.50 million LTI takes his wage to $16.52 million.

“His compensation has not changed during fiscal year 2021-22, with the exception of receiving $12.5 million in LTI (Long-Term Incentive) to be paid at specified intervals (at the end of two years) based on the “Accordingly, cost of the above LTI is for 2 years ended March 31, 2021, specifically $6.25 million for fiscal years 2019-20 and $6.25 million for fiscal 12 months 2020-21,” the report added.

If LTI is excluded from Vijayakumar’s compensation for the 12 months ended March 2020, his compensation would complete roughly $10.27 million, barely lower than Wipro CEO Thierry Delaporte’s $10.5 million. {dollars} earned.

Infosys CEO Salil Parekh, on the different hand, obtained a 43 % enhance in his complete compensation to $10.2 million per 12 months in 2021-22. TCS, on the different hand, paid its CEO Rajesh Gopinathan $3.3 million in compensation.

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