New Delhi : Wipro Chairman Azim Premji’s pay package saw a huge 63 per cent fall at $1,21,853 (about Rs 79 lakh) last fiscal, with no commission being paid during the year.
The IT czar had drawn a larger compensation of $3,27,993 (about Rs 2.17 crore) in the previous fiscal.
Premji’s package included USD 66,464 in salary and allowances and USD 41,742 (others) and USD 13,647 in long-term compensation (deferred benefit – company’s contribution to the Provident Fund and Pension Fund), totalling to USD 121,853 for the year 2016-17, as per documents with the US SEC. “Azim H Premji is entitled to a commission at the rate of 0.5 per cent on incremental net profits of Wipro for the fiscal 2017 over the previous year… For the year ended March 31, 2017, commission paid to Azim H Premji is INR Nil,” the document said.
