 "TCS boss' salary to rise by half")
“Taking into consideration, the increased business activities of the company and the responsibilities cast on N Chandrasekaran, the Board has revised his maximum limit of salary from Rs 10,00,000 a month to Rs 15,00,000 a month, with effect from April 1, 2014,” the company said in its annual report for 2012-13. It also said the proportionate increase would also be applicable to the other benefits he was getting.
For past many years, TCS has been growing consistently. In the financial year ended March 2013, its net profit grew 30.9 per cent to Rs 13,941 crore and revenues grew 28.8 per cent to Rs 62,989 crore. In that year, Chandrasekaran was paid Rs 11.69 crore, including benefits of about Rs 1.69 crore and commission of Rs 9 crore.
Recently S D Shibulal, CEO of India’s second largest IT services company Infosys, decided to almost forgo his salary by opting for a Rs 1 pay cheque.