Tech Mahindra CEO earned more than TCS, Infosys, Wipro boards in FY17

Mumbai: Tech Mahindra chief executive officer C P Gurnani has topped India's highest- paid CEOs chart for the year 2016-17 with a remuneration of Rs 150 crore -- a salary much higher than the pay package of entire boards of TCS, Wipro and Infosys.

Tech Mahindra which is country's one of the biggest information technology firms has stopped its appraisal procedure for 'old' employees with an experience of six years at the company and expects management review, according to a report in The Economic Times.

The company has said that these employees who are team leaders and above will have to wait at least for two quarters or six months before they are intimated about decision on their salary hike.

However, the report adds that a major chunk -- Rs 147.17 crore -- of Gurnani's total remuneration comes from value of the stock options allotted to him earlier and that were exercised last year.

The cash component of Gurnani's compensation including provident fund contribution was Rs 2.56 crore. It may be noted that total salary of India's two major IT firms has gone up.

N Chandrasekaran chairman of Tata Sons has seen his compensation rise to Rs 30.15 crore; Infosys CEO Vishal Sikka took home a 'reduced' pay of Rs 45.11 crore. Sikka had got a hefty 10-fold pay hike in FY16. and Wipro chief too had got a raise in salary.