Tata Consultancy Services, India's biggest outsourcer, has raised the salary of its chief executive and managing director N Chandrasekaran by 50 per cent to Rs. 15 lakh per month effective from April 2014. The hike is subject to approval by the shareholders.
Mr Chandrasekaran, who became chief executive in October 2009, had received a pay hike of about 40 per cent to Rs. 10 lakh in July 2011 earlier.
"The Board has revised the maximum limit of salary of N Chandrasekaran from Rs. 10 lakh per month to Rs. 15 lakh per month, with effect from April 1, 2014, for the remainder of the tenure of his appointment i.e. up to October 5, 2014, with proportionate increase in the benefits related to his salary," TCS said in a recent filing to stock exchanges.
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