Mukesh Ambani is paid nothing for the second year in a row

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In reaction to the pandemic’s detrimental impacts on business, Mukesh Ambani, the chairman of Reliance Industries, elected not to collect a salary from his parent firm for the second year in a row in FY2021-22. He had also foregone salary in the preceding fiscal year and had not collected a paycheck from Reliance Industries in the aftermath of the Covid outbreak.

Mukesh ambani

For the previous two fiscal years, Ambani has not accepted any allowances, perquisites, retirement benefits, commissions, or stock options from Reliance for his role as the company’s chairman and managing director (2020–21 and 2021–22). Prior to these two years, his income was capped to Rs 15 crore in order to set a personal example of moderation in executive salary levels. The salary of Rs 15 crore for 2019-20 remains unchanged from the previous 11 years. Ambani has kept his overall remuneration amount at Rs 15 crore since 2008-09, foregoing more than Rs 24 crore every year.

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Mukesh Ambani Gives his salary  for Covid-19

“Mukesh D. Ambani, the Chairman and Managing Director, has voluntarily chosen to forego his income in view of the COVID-19 epidemic in India, which has exacted a significant toll on the nation’s sociological, economic, and industrial health,” the company declared in June 2020.

His cousins Nikhil and Hital Meswani received the same remuneration (Rs 24 crore), but this time it included a Rs 17.28 crore commission. Executive Directors PMS Prasad and Pawan Kumar Kapil saw their pay reduced slightly. Nita Ambani, a non-executive director on the firm’s board, was paid a yearly commission of Rs 2 crore as well as a sitting fee of Rs 5 lakh. The previous year, she was paid a sitting fee of Rs. 8 lakh and a commission of Rs. 1.65 crore.

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