A larger responsibility at India's biggest corporate house means an up to three-fold jump in N Chandrasekaran's salary.
As chairman of Tata Sons Ltd., the holding company of the $103-billion Tata Group, Chandrasekaran will get Rs 7.8 crore to Rs 15.6 crore as basic pay and allowances per year, according to a Tata Sons statement. That compares with Rs 5.14 crore that he received as the manging director and chief executive officer of the Tata Consultancy Services Ltd., the largest Tata Group company.
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Over and above this, Chandrasekaran will earn incentives that can go up to twice the basic pay to Rs 9.6 crore.
The new allowance package includes a house rental allowance of 85 percent of the basic salary, a house expenses allowance of 85 percent of salary and a travel and medical allowance of up to 55 percent of the basic salary. The house rental allowance will be withdrawn if Chandrasekaran choses to avail company accommodation, the statement said.
That's not all. He will also receive a percentage of Tata Sons' profit as commission. And that's where he earned most of his income last year. Commissions contributed more than 80 percent to his Rs 30.15-crore cost to company as the TCS chief.
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