Azim Premji's compensation dips over 55 per cent in FY15 to Rs 4.9 crore

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

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

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

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

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.