Number of ITC employees with over Rs 1 crore salary goes up to 220, MD salary rises 5% in FY22

PTI, Jun 23, 2022, 9:38 AM IST

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The number of employees at conglomerate ITC drawing a salary of over Rs 1 crore per annum has gone up by 44 per cent in the recently-concluded FY2021-22 fiscal, according to the company’s annual report.

The total number of ITC employees drawing a salary aggregating Rs 8.5 lakh per month or over a crore rupees per year was 220 against 153 in 2020-21, said the latest annual report of ITC.

“There were 220 employees, who were employed throughout the year and were in receipt of remuneration aggregating Rs 102 lakhs or more or were employed for part of the year and were in receipt of remuneration aggregating Rs 8.5 lakhs per month or more during the financial year ended March 31, 2022,” the annual report said.

While the gross remuneration drawn by ITC Chairman & Managing Director Sanjiv Puri in FY22 was up 5.35 per cent 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.

Puri’s salary was 224:1 of the Ratio of Remuneration to Median Remuneration of all Employees, the annual report stated.

In FY21, Puri’s gross remuneration was Rs 11.95 crore.

ITC Executive Director B Sumant and R Tandon equally drew a gross remuneration of Rs 5.76 crore and Rs 5.60 crore by N Anand in FY22.

The total number of ITC employees as of March 31, 2022, stood at 23,829, which is 8.4 per cent lower than the last fiscal.

This includes 21,568 male and 2,261 female employees. Besides, it had 25,513 employees in the other than permanent category.

ITC’s total number of employees as of March 31, 2021, stood at 26,017.

In FY22, the average remuneration of ITC employees increased by 7 per cent, while the median remuneration of employees increased by 4 per cent.

The average remuneration of Key Managerial Personnel (KMPs) increased by 8 per cent.

ITC’s gross revenue for the financial year ended on March 31, 2022, was at Rs 59,101 crore as against Rs 48,151.24 crore of a year ago.