Businesses including FMCG, hotels, software, packaging, paperboard, specialty paper and agri have 44 per cent millionaire employees in ITC
Inflation is increasing rapidly these days. In front of him, the salary of our people is not increasing as much as it should be. This has created problems for the salaried class. Expenses are increasing in comparison to salaries. Most companies then increase wages by a certain percentage each year, but this increase cannot cope with current inflation. Of course, there is such a company in the country which has made its employees millionaires. The company is witnessing a steady increase in the number of millionaire employees.
According to reports, ITC, involved in businesses including FMCG, hotels, software, packaging, paperboard, specialty paper and agri, has 44 per cent millionaire employees. There has been a 44% increase in the number of employees earning more than Rs 1 crore in the financial year 2021-22. According to the latest ITC report, the number of employees earning more than Rs 1 crore annually in the year 2020-21 was 153. Now this number has increased to 220.
As per last year’s annual report, the company had 220 employees who worked throughout the year and earned a total salary of over Rs 1 crore. In the financial year, the salary of ITC Chairman and Managing Director Sanjeev Puri was also increased by 5.35 percent. As a result of this increase, his salary has gone up to Rs 12.59 crore.
As per the annual report, Puri’s salary was in the ratio of 224:1 to the average salary of all the employees. Puri’s total remuneration in the financial year 2021 was Rs 11.95 crore. ITC’s executive directors B Sumant and R Tandon were paid Rs 5.76 crore and Rs 5.60 crore, respectively, in the financial year.
According to reports, the number of employees in ITC has come down. There are 8.4% fewer employees this year than last year. As of last March, the number of employees in ITC is 23829. There were 21,568 male and 2,261 female employees. Average salary of ITC employees increased by 7% in FY2022. Whereas, a year ago, the total revenue of ITC was Rs 48,151.24 crore. Which increased to Rs 59,101 crore in the financial year ended 31 March 2022.