Number Of ITC Employees With Over Rs 1 Crore Salary Goes Up To 220, Jumps 44% In FY22

The number of employees at Indian conglomerate giant ITC who are drawing a huge salary of more than Rs 1 crore per annum has gone up by 44% in the past financial year 2021-22, according to the company's annual report.

The total number of ITC employees drawing a salary aggregating Rs 8.5 lakh per month, i.e. over Rs 1 crore per year, was 220, which is 44% higher than the previous FY 2020-21¡¯s figure of 153, said the latest annual report of ITC, as per PTI.

"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.

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The gross remuneration drawn by ITC Chairman & Managing Director Sanjiv Puri in FY22 was up 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, as per PTI. Sanjiv Puri had joined ITC more than three decades back in January 1986.

In the previous financial year of 2020-21, Puri's gross remuneration was reportedly Rs 11.95 crore.

ITC Executive Director B Sumant and R Tandon both reportedly drew an equal gross remuneration of Rs 5.76 crore and Rs 5.60 crore was drawn by N Anand in FY22.

The total number of ITC employees as of March 31, 2022, stood at 23,829, which is 8.4% lower than the last fiscal (26,017).

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

The annual report stated that ITC's net worth as of 31st March 2022 was Rs 60,545.55 crores.

In FY22 which ended on March 31st 2022, the average remuneration of ITC employees reportedly increased by 7%, while the median remuneration of employees increased by 4%.

The conglomerate giant ITC's gross revenue for FY2022 was reportedly at Rs 59,101 crore as against Rs 48,151.24 crore in FY2021.

As per ITC's annual report, during FY 2021-22, the company also employed 123 differently-abled employees.

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The average remuneration of Key Managerial Personnel (KMPs)reportedly increased by 8%.

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

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