Tata Consultancy Services has upped the basic salary of its Chief Executive Officer and Managing Director, Mr N Chandrasekaran, from a maximum of Rs 6 lakh to Rs 10 lakh a month starting April 1, 2012.
In addition to the increase in salary, benefits have also been raised on a proportionate basis, the company said in notice to the stock exchanges.
Last year, salary constituted just 13.58 per cent of Mr Chandrasekaran's total compensation of Rs 5.30 crore.
All other terms and conditions relating to his appointment will remain unchanged, the company added.
It may be recalled that Mr Chandrasekaran was appointed as CEO and Managing Director of TCS for five years starting October 6, 2009.
The TCS scrip was down by 0.88 per cent to close at Rs 1,165 on the BSE today.