New Delhi, Jun 8: Tata Consultancy Services (TCS), one of the top IT companies of India announced that it has enhanced total pay package of its top management personnel and board members by over Rs 1 crore. The Tata group entity paid a total remuneration of Rs 12.80 crore to its key management personnel and board members during 2008-09, up from Rs 11.08 crore in the previous fiscal.
TCS' annual report suggest that the CEO S Ramadorai was the highest paid executive with a total remuneration of Rs 4.1 crore in the fiscal. His pay package grew by about 22 pc from Rs 3.37 cr in 2007-08. However, it was lower than a hike of 36 pc for Chief Operating Officer (COO) N Chandrasekaran.
Executive Director Phiroz Vandrevala got the highest pay hike of 41 per cent among the company's board members as his remuneration rose from Rs one crore to Rs 1.41 crore. Though the company's total employee cost rose by about 25 pc, Ratan Tata, TCS's non-executive Chairman saw his pay package, comprising of a commission and sitting fees for board members, unchanged at Rs 55.60 lakh.