The number of ITC conglomerate employees earning a salary of more than Rs 1 crore per annum has increased by 44% in the recently concluded 2021-22 financial year, according to the company’s annual report.
The total number of ITC employees earning salaries totaling Rs 8.5 lakh per month or more than one million rupees per year was 220 compared to 153 in 2020-21, according to the latest ITC annual report .
“There were 220 employees, who were employed throughout the year and received remuneration totaling Rs 102 lakhs or more or were employed for part of the year and received remuneration totaling Rs 8.5 lakhs per month or more during the fiscal year ended March 31, 2022,” the annual report states.
While the gross compensation received by ITC Chairman and Managing Director Sanjiv Puri in FY22 increased by 5.35% to Rs 12.59 crore, which includes a consolidated salary of Rs 2 .64 crore, perquisites/other benefits of Rs 49.63 lakh and a performance bonus of Rs 7.52 crore.
Mr. Puri’s salary was 224:1 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 by N Anand in FY22.
ITC’s total number of employees as of March 31, 2022 was 23,829, down 8.4% from last fiscal year.
This includes 21,568 male employees and 2,261 female employees. In addition, it had 25,513 employees in the non-permanent category.
The total number of ITC employees as of March 31, 2021 was 26,017.
In FY22, ITC’s average employee compensation increased by 7%, while median employee compensation increased by 4%.
The average remuneration of Key Managerial Personnel (KMP) increased by 8%.
ITC’s gross revenue for the year ended 31 March 2022 was Rs 59,101 crore compared to Rs 48,151.24 crore a year ago.
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