Wipro posted its annual report for the year ended March 2024.

What Happened: As per the report, executive chairman Rishad Premji’s salary for the year stood at ₹6.41 crore. His basic salary was ₹2.35 crore, and he received an allowance worth ₹3.4 crore.

This is an around 18% decrease from the ₹7.8 crore salary he received the previous year. His salary was 65 times greater than the median salary. The median salary for employees excluding whole-time directors for the year was ₹9.84 lakh.

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He was not paid any commissions for the year. The Harvard graduate is entitled to a commission at the rate of 0.35% on incremental consolidated net profits of the company over the previous fiscal year. “However, as the incremental consolidated net profits for the financial year 2023-24 were negative, no commission was payable to Rishad Premji,” the company added in the report.

His father Azim Premji was paid a total salary of ₹1.05 crore. Out of this ₹5 lakh was sitting fees and the rest was commission. However, the company’s highest-paid employee for the year ended March 2024 was former CEO Thierry Delaporte. Delaporte earned around ₹167 crore in FY24, most of which was severance pay at around ₹92 crore.

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