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No Salary Hike For Country's Richest Person For 11th Year In A Row

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For the eleventh consecutive year, the richest person in India has capped his earnings from his firm RIL at Rs. 15 crore. The incumbent has since 2008-09 kept his remuneration, including salary, allowances, commission and perks unchanged.

No Salary Hike For Country's Richest Person For 11th Year In A Row
 

Nonetheless, other whole-time directors have got a handsome raise for the year ending March 2019. "Compensation of Shri 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 said in its latest annual report.

In 2009 October he capped his salary at Rs. 15 crore on issues relating to right-sizing of salaries of CEO. And this salary cap, continues for him even as for others it increased. Commission has been unchanged at Rs 9.53 crore while perquisites have risen to Rs 31 lakh from Rs 27 lakh. Retirement benefits were Rs 71 lakh.

For the year ending 2018-19, his remuneration came in at Rs. 4.45 crore, which is less in comparison to the previous year's remuneration of Rs. 4.49 crore.

"Performance criteria for two Executive Directors, entitled for Performance Linked Incentive (PLI), are determined by the Human Resources, Nomination and Remuneration Committee," RIL said in the annual report.

RIL's non-executive directors, including Nita Ambani, also got Rs 1.65 crore each as commission other than the sitting fees of Rs. 7 lakhs. The commission was Rs 1.5 crore in 2017-18 and Rs 1.3 crore in the previous year.

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