Mukesh Ambani keeps salary capped at Rs 15 crore for 6th year

Reliance Industries Chairman Mukesh Ambani kept his annual salary capped at Rs. 15 crore for the sixth year in a row even as the remuneration of key executives went up.

Mukesh Ambani, the richest Indian, has kept salary, perquisites and allowances and commission at Rs. 15 crore since 2008-09, foregoing almost Rs. 24 crore per annum.

“The Chairman and Managing Director’s compensation has been set at Rs. 15 crore as against Rs. 38.86 crore as per shareholders’ approval, reflecting his desire to continue to set a personal example for moderation in managerial compensation levels,” RIL said in its annual report for the financial year ended March 31, 2014.

His remuneration for 2013-14 included Rs. 4.16 crore as salary, perquisites and allowances of Rs. 60 lakh, retirement benefits of Rs. 82 lakh and Rs. 9.42 crore as commission on profit.

In the previous year, while his salary and perquisites and allowances were the same, he got commission of Rs. 9.35 crore and Rs. 89 lakh in retirement benefits.

Mukesh Ambani voluntarily capped his compensation at Rs. 15 crore in October 2009 amid a debate over right-sizing of CEO salaries.