NEW DELHI: Richest Indian Mukesh Ambani has kept his annual wage from company Reliance Industries capped at Rs 15 crore for the 10th year at the trot.
Ambani has kept wage, perquisites and allowances and commission together at Rs 15 crore since 2008-09, forgoing virtually Rs 24 crore consistent with annum.
This is at a time when remunerations of all whole-time administrators of the corporate, including cousins Nikhil and Hital Meswani, noticed good-looking lift in the fiscal year ended on March 31, 2018.
"Compensation of Mukesh D Ambani, Chairman and Managing Director, has been set at Rs 15 crore, reflecting his desire to continue to set a personal example for moderation in managerial compensation levels," RIL stated in its newest annual report.
His remuneration for 2017-18 incorporated Rs four.49 crore as wage and allowances, which is marginally higher than Rs four.16 crore he were given in earlier 2016-17 fiscal. Commission has however been unchanged at Rs 9.53 crore while perquisites have declined to Rs 27 lakh from Rs 60 lakh. Retirement benefits had been Rs 71 lakh.
Ambani voluntarily capped his repayment at Rs 15 crore in October 2009 amid a debate over right-sizing of CEO salaries.
The wage cap continued at the same time as all different government administrators noticed their remunerations go up.
Ambani's cousins Nikhil R Meswani and Hital R Meswani noticed their repayment upward thrust to Rs 19.99 crore every. They had earned Rs 16.58 crore every in 2016-17. In 2015-16, Nikhil had were given Rs 14.42 crore while Hital took house Rs 14.41 crore. In 2014-15, they had were given Rs 12.03 crore every.
Also, one among his key executives, Executive Director P M S Prasad noticed his remuneration go up to Rs 8.99 crore from Rs 7.87 crore in 2016-17, Rs 7.23 crore in 2015-16 and Rs 6.03 crore in 2014-15.
Refinery chief Pawan Kumar Kapil noticed his repayment upward thrust to Rs three.47 crore. In the previous fiscal, his remuneration had fallen to Rs 2.54 crore, from Rs 2.94 crore in 2015-16. He had earned Rs 2.41 crore in 2014-15.
RIL's non-executive administrators, including Nita Ambani, also were given Rs 1.five crore every as commission, besides sitting charges. The commission used to be Rs 1.three crore in the earlier year.
Ambani's spouse Nita Ambani, a non-executive director at the company's board, earned Rs 6 lakh sitting rate.
Apart from Ambani, the RIL board has Meswani brothers, Prasad and Kapil as wholetime administrators.
Besides Nita Ambani, different non-executive administrators include Mansingh L Bhakta, Yogendra P Trivedi, D V Kapur, Ashok Misra, Dipak C Jain, Raghunath A Mashelkar, Adil Zainulbhai, Raminder Singh Gujral and Shumeet Banerji.
Ambani has kept wage, perquisites and allowances and commission together at Rs 15 crore since 2008-09, forgoing virtually Rs 24 crore consistent with annum.
This is at a time when remunerations of all whole-time administrators of the corporate, including cousins Nikhil and Hital Meswani, noticed good-looking lift in the fiscal year ended on March 31, 2018.
"Compensation of Mukesh D Ambani, Chairman and Managing Director, has been set at Rs 15 crore, reflecting his desire to continue to set a personal example for moderation in managerial compensation levels," RIL stated in its newest annual report.
His remuneration for 2017-18 incorporated Rs four.49 crore as wage and allowances, which is marginally higher than Rs four.16 crore he were given in earlier 2016-17 fiscal. Commission has however been unchanged at Rs 9.53 crore while perquisites have declined to Rs 27 lakh from Rs 60 lakh. Retirement benefits had been Rs 71 lakh.
Ambani voluntarily capped his repayment at Rs 15 crore in October 2009 amid a debate over right-sizing of CEO salaries.
The wage cap continued at the same time as all different government administrators noticed their remunerations go up.
Ambani's cousins Nikhil R Meswani and Hital R Meswani noticed their repayment upward thrust to Rs 19.99 crore every. They had earned Rs 16.58 crore every in 2016-17. In 2015-16, Nikhil had were given Rs 14.42 crore while Hital took house Rs 14.41 crore. In 2014-15, they had were given Rs 12.03 crore every.
Also, one among his key executives, Executive Director P M S Prasad noticed his remuneration go up to Rs 8.99 crore from Rs 7.87 crore in 2016-17, Rs 7.23 crore in 2015-16 and Rs 6.03 crore in 2014-15.
Refinery chief Pawan Kumar Kapil noticed his repayment upward thrust to Rs three.47 crore. In the previous fiscal, his remuneration had fallen to Rs 2.54 crore, from Rs 2.94 crore in 2015-16. He had earned Rs 2.41 crore in 2014-15.
RIL's non-executive administrators, including Nita Ambani, also were given Rs 1.five crore every as commission, besides sitting charges. The commission used to be Rs 1.three crore in the earlier year.
Ambani's spouse Nita Ambani, a non-executive director at the company's board, earned Rs 6 lakh sitting rate.
Apart from Ambani, the RIL board has Meswani brothers, Prasad and Kapil as wholetime administrators.
Besides Nita Ambani, different non-executive administrators include Mansingh L Bhakta, Yogendra P Trivedi, D V Kapur, Ashok Misra, Dipak C Jain, Raghunath A Mashelkar, Adil Zainulbhai, Raminder Singh Gujral and Shumeet Banerji.
Mukesh Ambani keeps salary capped at Rs 15 crore for 10th year in a row
![Mukesh Ambani keeps salary capped at Rs 15 crore for 10th year in a row]()
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June 08, 2018
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