Wipro chief Premji's salary drops 63%

Wipro Chairman Azim Premji’s pay package saw a huge 63% fall at $ 121,853 (about Rs 79 lakh) last fiscal, with no commission being paid during the year.

The IT czar had drawn a larger compensation of $3,27,993 (about Rs 2.17 crore) in the previous fiscal.

Premji’s package included $ 66,464 in salary and allowances and $41,742 (others) and $13,647 in long-term compensation , totalling to $121,853 for the year 2016-17, as per documents with the US SEC.

“Azim H Premji is entitled to a commission at the rate of 0.5% on incremental net profits of Wipro for the fiscal 2017 over the previous year... For the year ended March 31, 2017, commission paid to Azim H Premji is INR Nil,” the document said.

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