Wipro chairman Rishad Premji’s salary was cut by 50 percent

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The salary of Wipro chairman Rishad Premji has seen a cut of about 50 per cent in the financial year 2022-23. His salary has also been cut after doing away with the commission (variable pay) of the last financial year. Premji’s total compensation for 2022-23 was $9,51,353. in 2021-22 which was $18,19,022, Vipre said in a filing with the US Securities and Exchange Commission.

According to the company, Rishad Premji is entitled to a commission of 0.35 per cent of Wipro’s annual incremental consolidated net profit. However, the company’s incremental consolidated net profit for 2022-23 was negative, so the company decided not to pay any commission to Rishad Premji for the year. Premaj earned $8,61,620 as salary and $15,390 million in other income and $74,343 in long-term compensation. His salary and allowances were cut by 23 percent to $11,19,362 for 2021-22. This is not the first time that Premji has reduced his compensation. Earlier in 2019-20 also, his salary was cut by 31 per cent. In 2022-23 the company will spend Rs. Showed a net profit of 3,074 crores. Which was 0.4 percent less annually. The company’s Sinium management also accepted the pay cut. 10,84 of the total in 2022-23, said Jatin Dalal, Wipro’s chief financial officer. Received 693 million dollars as compensation. Which shows a 32 percent decrease from the $15,91,142 seen in 2021-22. Thierry Delaporte of Wipro was the highest paid CEO in India. He earned a salary of $1,00,26,942 in 2021-22, up from $1,05,19,174 in 2021-22, a 5 percent decrease.