Mumbai(PTI): Reliance Industries' Chairman and Managing Director Mukesh Ambani kept his annual salary capped at…
Flipkart Internet, the Indian e-commerce giant’s IT arm, gave out annual salary of more than Rs 1 crore in 2014 to about 23 employees, according to the company’s filing with the Registrar of Companies.
This salary can be equated to what consumer giants like ITC may give out, which suggests that start-ups are willing to dish out hefty paychecks to attract and retain talent at senior level.
According to the filing, Flipkart Internet’s employee benefit expenses rose threefold to Rs 476 crore, as was noted in an ET report.
However, the filing includes details only about Flipkart Internet and leaves out other group subsidiaries like Flipkart India and Flipkart Logistics, the report said. If the remuneration figures of the other subsidiaries are included, the the number will go much higher.
Mekin Maheshwari, who served as the chief people officer at Flipkart Internet, took home Rs 18.73 crore in annual remuneration during 2014-2015, the RoC filing said.
This means that in the period, Maheshwari’s salary was more than the salaries of top officials like Hindustan Unilever’s Sanjiv Mehta and ITC chairman YC Deveshwar.
In September, Maheshwari stepped down from the post and now has an advisory role in the company