No. of crorepatis in Wipro doubles
Posted on: 02/Jul/2015 9:18:34 AM
The Companies Act requires that all listed firms declare the employees that are drawing a salary of Rs. 60 lakhs or more. Accordingly, it has been shown, that IT giant Wipro has in its rolls around 70 crorepatis! In the year 2013-14, the company had 38 crorepatis. The no. of employees drawing Rs. 60 lakhs or more amounted to 169.
Wipro is the third largest IT company in India. The largest, Infosys, has 113 crorepatis as per its declaration in 2014-15.
Wipro Chairman Azim Premji wrote a letter in the company�s annual report. It said, �Wipro continued to contribute significantly towards philanthropy... Over the past 15 years, I have tried to put this belief into action through my personal philanthropic work. Over these years I have irrevocably transferred a significant part of the shareholding in Wipro, amounting to 39% of the shares of Wipro, to a trust (of which ownership in 21.14% was transferred and for the balance the trust is entitled to beneficial interest of dividends and sale proceeds)... The trust supports the work of the Azim Premji Foundation and Azim Premji Philanthropic Initiative. Thus, a very significant part of the value created by Wipro, goes towards social causes.�
