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

Billionaire Mukesh Ambani has kept his salary as the head of Reliance Industries capped at Rs15 crore for the sixth year while giving a 10-25% increase to other executive directors. “The chairman and managing director’s compensation has been set at Rs15 crore as against Rs38.86 crore as per the shareholders’ approval, reflecting his desire to continue to set a personal example for moderation in managerial compensation levels,” the RIL’s Annual Report for 2013-14 stated.

India’s richest man has left his salary unchanged, excluding a minor tweaking of components of his salary. There is a minor reduction of seven lakh rupees in his retiral benefits and an increase to the same extent in the commission payable to him. RIL’s executive director Nikhil Meswani will take home Rs12.12 crore for 2013-14 as against Rs11.05 crore in the previous year. Executive director Hital Meswani’s remuneration for FY14 was Rs12.11 crore as against Rs11.05 crore.

The package of PMS Prasad, executive director, whose remuneration for 2013-14 was Rs6.03 crore, rises 10.2%. Another executive director, Pawan Kumar would get a remuneration of Rs2.49 crore, which is 25% higher than last year. In the last two years, several top executives of corporate India have rather taken a salary cut or have frozen their salaries as industry suffered due to economic slowdown.