In FY16, Infosys had 48 employees in India who were paid more than Rs 1 crore in annual compensation, as compared to 111 in FY15
The number of crorepati– those earning Rs 1 crore or more annually – residing in India came down to 48 in FY16 from 111 in the previous financial year.
This could be, said sources, because many of them have moved to the client sites in the US this year, and their remuneration is not reflected in Infosys India’s books. A lower bonus paid to senior employees could also be another reason.
In FY16,stole the limelight with a better-than-expected performance.
According to its annual report for the financial year, the number of employees earning Rs 1 crore or more per annum was 48. These are senior management personnel whose details are disclosed by the company every year “as per Rule 5(2) of Chapter XIII, the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.”
In FY15, the number was 111.
While attempts to reach out to the company to find out the reasons behind this drop could not yield any result, sources in the company said the FY15 annual compensation for certain eligible managerial personnel was higher because of “changes in pay-out model for long-term bonuses”. In FY15, a few eligible employees were paid long-term bonuses for three years as compared to just for one year in FY16.