Premji got Rs 1.69 cr, Vivek Paul Rs 5.66 cr in FY2004

Azim Premji, chairman, Wipro Ltd, received an annual compensation of $370,905 (about Rs 1.69 crore) for the year ended March 31, 2004, according to a company filing to the US Securities and Exchange Commission.

The figure includes a subsidy of $19,565 provided to Premji, for interest payments on his independent housing loan.

On the other hand, vice chairman, Vivek Paul received an annual compensation of $1,244,784 (about Rs 5.66 crore) for the year ended March 31 2004.

Both Premji and Paul were paid commissions at the rate of 0.1 per cent and 0.3 per cent respectively, on the company's net profits computed in accordance with the provisions of the Indian Companies Act, 1956.

All other executives, excepting Vineet Agrawal who heads the consumer care and lighting division, were paid incentives under a quarterly performance linked scheme based on their achievement of pre-defined profit targets.

Suresh Vaswani, head of Wipro Infotech received an annual compensation of $123,975 (about Rs 56.4 lakh) while the chief financial officer Suresh Senapaty got $146,204 (about Rs 66.5 lakh).

Vineet Agarwal, president of Wipro Consumer Care and Lighting received an annual compensation of $120,816 (about Rs 54.97 lakh).