The number of employees at the conglomerate ITC with a salary of more than Rs 1 crore per year has increased by 44 percent in the recently concluded fiscal year FY2021-22, according to the company’s annual report.
The total number of ITC employees who received a salary of Rs 8.5 lakh per month or more than one crore rupees per year was 220 against 153 in 2020-21, according to the latest ITC annual report.
“There were 220 employees who were employed all year round and received remuneration of Rs 102 lakhs or more or who were employed for part of the year and received remuneration of Rs 8.5 lakhs or more per month during the financial year ended on March 31, 2022,” according to the annual report.
While the gross pay drawn by ITC Chairman and General Manager Sanjiv Puri in FY22 increased by 5.35 percent to Rs 12.59 crore, including a consolidated salary of Rs 2.64 crore, perks/other benefits of Rs 49, 63 lakh and a performance bonus of Rs 7.52 crore.
Mr. Puri’s salary was 224:1 of the pay-to-median pay ratio of all employees, the annual report said.
In FY21, Mr Puri’s gross compensation was Rs 11.95 crore.
ITC Executive Director B Sumant and R Tandon also received gross compensation of Rs 5.76 crore and Rs 5.60 crore from N Anand in FY22.
The total number of ITC employees as of March 31, 2022 stood at 23,829, which is 8.4 percent lower than the last fiscal year.
This includes 21,568 male and 2,261 female employees. In addition, it had 25,513 employees in the non-fixed category.
The total number of ITC employees as of March 31, 2021 was 26,017.
In FY22, the median pay of ITC employees increased by 7 percent, while the median pay of employees increased by 4 percent.
The average remuneration of Key Managerial Personnel (KMPs) increased by 8 percent.
The gross revenue of ITC for the fiscal year ended March 31, 2022 was Rs 59,101 crore as against Rs 48,151.24 crore a year ago.
(Except for the headline, this story has not been edited by DailyExpertNews staff and has been published from a syndicated feed.)