More than 100 employees at TCS earn over Rs 1 crore every year, says report

More than 100 employees of Tata Consultancy Services (TCS) earned an annual compensation of more than Rs 1 crore in the previous financial year, The Economic Times reported.

The report added that nearly one-fourth employees, who received the compensation, had begun their careers with the IT firm.

The annexure of the report, quoted by the newspaper, said the data comprises of 'salary, allowances, cash incentive, the monetary value of perquisites as per Income Tax Rules and company's contribution to provident and superannuation fund'.

In the financial year 2016-2017, the report said, the firm had 91 millionaires and in FY19, the number of millionaires jumped to 103.

The 103 figure excluded the compensation of CEO Rajesh Gopinathan and COO NG Subramaniam and the salaries of executives based abroad, the paper said citing the director compensation data accessed by them.

As per the ET report, Debashis Ghosh, the head of life sciences, healthcare and public services business at TCS, earned over Rs 4.7 crore; Krishnan Ramanujam, head of business and technology services, earned more than Rs 4.1 crore, and K Krithivasan, head of the company's banking, financial services and insurance business, earned more than Rs 4.3 crore.