News: Paytm CEO took a hefty pay cut of Rs 47 lakh

#Corporate

Paytm CEO took a hefty pay cut of Rs 47 lakh

As per the filings in Ministry of Corporate Affairs, his annual salary went down from Rs 3.47 crore in 2016-17 to Rs 3 crore for 2017-18, without accounting for stock-based benefits.
Paytm CEO took a hefty pay cut of Rs 47 lakh

CEO and Founder of Paytm, Vijay Shekhar Sharma took a pay cut for the financial year 2018.  As per the filings in Ministry of Corporate Affairs, his annual salary went down from Rs 3.47 crore in 2016-17 to Rs 3 crore for 2017-18, without accounting for stock-based benefits. 

According to Techcircle, his pay cheque is based on the One97 business unit and it’s unclear if the payments bank and e-commerce business are factored into his salary. It can be recalled that Vijay Shekhar Sharma was the second highest paid tech entrepreneur in the country according to VC Circle in 2016-17. 

On the other hand, Salary of Ajay Shekhar Sharma, Sr, VP at Paytm saw a slight increase from 94 lakh in 2016-17 to 97 lakh in 2017-18. The website also reported that Amit Sinha, COO of Paytm’s e-commerce unit Paytm Mall dropped from Rs 70 lakh to Rs 25 Lakh this year. 

While Madhur Deora witnessed a double hike in his salary, in the last financial year, he was drawing Rs 74 lakh and currently his remuneration is Rs 1.62 crore, reported the website. 

Image Source- Quartz

Topics: #Corporate, Leadership

Did you find this story helpful?

Author

QUICK POLL

Is your company culture digital ready?

On News Stands Now
q_auto,f_auto/v1565295723/mag-august-2019.png

Subscribe now to the All New People Matters in both Print and Digital for 3 years.

.

Subscribe
And Save 59%

Subscribe now