Axis Bank Chief basic pay rose 8% to Rs.2.91cr in FY18

According to Axis bank’s annual report for 2017-18 the salary of Axis Bank managing director and CEO Shikha Sharma increased by 7.8 per cent to Rs 2.91 crore last fiscal, Her basic salary stood at over Rs 2.70 crore in the preceding fiscal.

Among others, Sharma got Rs 97.05 lakh as house rent allowance, Rs 14.76 lakh as leave fare concession, perquisites (excluding ESOPs) worth over Rs 32.08 lakh and deferred variable pay (for 2013-14 and 2014-15) of Rs 44.10 lakh during 2017-18, the report showed.

Perquisites include bank’s furnished accommodation, club fees, personal accident insurance, loans, use of car and telephone, medical reimbursement, travelling and halting allowance, among others.

Besides, there were superannuation allowances equivalent to 10 per cent of the basic pay, provident fund as 12 per cent of the basic pay and gratuity equivalent to one month’s salary for each completed year of service.