New Delhi: Mukesh Ambani, the richest Indian, is getting less salary than his deputies. He has kept his annual salary from company Reliance Industries capped at Rs15 crore for the tenth year on the trot.
Mukesh Ambani has kept salary, perquisites and allowances and commission together at Rs 15 crore since 2008-09, forgoing almost Rs 24 crore per annum. This is at a time when remunerations of all whole-time directors of the company, including cousins Nikhil and Hital Meswani, saw handsome raise in the fiscal year ended on March 31, 2018.
What he gets this year
Mukesh Ambani’s remuneration for 2017-18 included Rs4.49 crore as salary and allowances, which is marginally higher than Rs4.16 crore he got in previous 2016-17 fiscal. Commission has however been unchanged at Rs 9.53 crore while perquisites have declined to Rs 27 lakh from Rs 60 lakh. Retirement benefits were Rs 71 lakh.
Mukesh Ambani’s cousins get more
Mukesh Ambani’s cousins Nikhil R Meswani and Hital R Meswani saw their compensation rise to Rs 19.99 crore each. They had earned Rs 16.58 crore each in 2016-17. In 2015-16, Nikhil had got Rs 14.42 crore while Hital took home Rs 14.41 crore. In 2014-15, they had got Rs 12.03 crore each.
Key executives get handsome rise
Also, one of his key executives, executive director PMS Prasad saw his remuneration go up to Rs 8.99 crore from Rs 7.87 crore in 2016-17, Rs 7.23 crore in 2015-16 and Rs 6.03 crore in 2014-15.
Refinery chief Pawan Kumar Kapil saw his compensation rise to Rs 3.47 crore. In the previous fiscal, his remuneration had fallen to Rs 2.54 crore, from Rs 2.94 crore in 2015-16. He had earned Rs 2.41 crore in 2014-15.
What Nita Ambani gets from RIL
RIL’s non-executive directors, including Nita Ambani, also got Rs 1.5 crore each as commission, besides sitting fees. The commission was Rs 1.3 crore in the previous year. Ambani’s wife Nita Ambani, a non-executive director on the company’s board, earned Rs 6 lakh sitting fee.