Ambani Gets 205-Times Of Median Pay; ITC's Deveshwar 439-Times

NEW DELHI: Billionaire industrialist and India's richest Mukesh Ambani has not taken a pay hike for seven years, but his salary is over 205-times that of the median employee remuneration at Reliance Industries Ltd (RIL).

However, this ratio stands much higher at 439 times in case of ITC Ltd executive chairman Y C Deveshwar.

The same ratio stands much lower at 89-times in case of IT major Wipro's chairman and managing director Azim Premji, and just at 19-times for mortgage giant HDFC's chairman Deepak Parekh for the latest fiscal 2014-15.

However, HDFC Bank's managing director Aditya Puri got a remuneration that was 117-times of the median employee pay at the bank, while for ICICI Bank CEO Chanda Kochhar it was 97 times and at over 74 times for Axis Bank's managing director and CEO Shikha Sharma.

For IT giant Infosys' CEO Vishal Sikkar, his pay was 116 times of the median employee pay at the company. The same ratio for HUL's CEO Sanjiv Mehta was 93 times, but much higher at 293 times for Vedanta Limited's chairman Navin Agarwal.

Listed companies have begun disclosing these ratios, as also other comparisons such as salary hikes for the top management personnel and an average staff, for the first time pursuant to the new Companies Act and Sebi's latest corporate governance code coming into force.

While a majority of the companies are still in the process of disclosing these details, the disclosures made so far by the top companies show a wide variance in these ratios, while there is also a huge difference between the pay hike figures for the top management personnel and an average staff member in many cases.
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