Salil Parekh, Chief Executive Officer (CEO) of IT company Infosys received a salary package of Rs 24.67 crore in the last financial year 2018-19. This information has been given in the company’s annual report. Parekh was associated with the company in January 2018. He got Rs 6.07 crore as fixed salary, while 10.96 crores were received in the form of bonus, incentives and variable pay. Infosys also gave stock options to company CEO Salil Parekh and COO UB Praveen Rao. While Salil has been given Rs 10 crore, UB Praveen Rao has been given a share of Rs 4 crore.
Parekh will also get Rs 3.25 crore as restructured stock units. 13 crore rupees as an annual performance equity fund will also be available. Parekh will also get a one-time equity grant of Rs 9.75 crore. The amount received as stock compensation will be decided during the working period of Parekh. Parekh has been appointed for five years. The amount given to him in the contract of Parekh has also been clearly stated if he can not achieve the company’s fixed minimum goals. The company has said that they will not work in any other rival company for six months after leaving the company. Infosys has said that after leaving the company, they will not work with or with the customer companies who have served in Infosys during the last 12 months of the job.
Infosys, the country’s largest IT company, has made its five crore employees rich. The company has announced that it will give the company’s share to its employees. However, it will be only 1.15 percent of the company’s total capitalization. Infosys has been continuously giving shares to its employees since 1995. Stock ownership programs are distributed to employees who work well. However, employees can redeem it after seven years.
Employees will get Rs 3700 crore profit
Infosys has said that with this move, currently 5 crore employees will be benefited. However, for this, the company will do this by taking shareholders approval in the Annual General Meeting. Infosys CEO Salil Parekh said that the employee is the biggest asset for the company. By giving stock options, the company wants to keep staff with them for a long time. This will also benefit the company.