This Software Company’s CEO Salary Jumps To Rs 71 Crore Per Annum after 43% Hike

Leading Software company Infosys has decided to raise its CEO and MD Salil Parekh's salary to Rs 71 crore per annum after announcing a sharp hike of 43%, according to reports. The surge in the salary of Salil Parekh's has come because of stock incentives awarded in the last financial year 2021 along with a boost in the performance-based variable pay. The surge in the salary of Salil Parekh's has come because of stock incentives awarded in the last financial year 2021 along with a boost in the performance-based variable pay.

Earlier, Parekh took home approximately Rs 49.7 crore in the 2020-21 and Rs 34.27 crore in 2019-20 financial year.

According to the annual report, the CEO's compensation for the current financial year 2021-22 includes Rs 38 lakhs retiral benefits, Rs 5.69 crore base salary, Rs 12.62 crore variable income, and Rs 52.33 crore in perquisites as a result of the stock option exercised.

With today's revision in salary of Salil Parekh he will be counted among one of the highest paid executives in India. Meanwhile, Infosys justified the sharp rise in the salary and cited the company's strong growth in the recent years. The company provided a detailed explanation of the salary hike in its annual report released today on why the CEO rewarded so substantially.