Company: WIT
Filing Date: 2025-05-22
Form Type: 20-F
Source: 0000950170-25-076303
Chunk: 103

Company: WIPRO LTD
Filing Date: 2025-05-22
Form: 20-F
Item: Item 6
Chunk 103
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000 (U.S.$ 1,170.54) for every Board meeting they attend. Our directors are reimbursed for travel and out-of-pocket expenses in connection with their attendance at Board and Committee meetings. Additionally, we also compensate non-executive directors by way of commission, which is limited to a fixed sum payable as approved by the Board subject to a maximum of 1% of the net profits of the Company, in the aggregate, for all non-executive directors put together, as approved by the shareholders. Further, the non-executive non-independent director is entitled to maintenance of the Founder Chairman’s office, including an executive assistant at the Company’s expense and reimbursement of travel, stay and entertainment expenses actually and properly incurred in the course of business as per the Company’s policy.
The Nomination and Remuneration Committee has created a policy for the selection and appointment of directors, including determining qualifications and independence of directors, key managerial personnel and senior management personnel, and their respective remuneration, as part of its charter and other matters provided under Section 178(3) of the Companies Act, 2013.
The aggregate commission to our non-executive directors for the year ended March 31, 2025 was ₹ 127.79 million (U.S.$ 1.49 million). There were no stock options granted to non-executive directors as of March 31, 2025 and the details of shares held by non-executive directors as of March 31, 2025 are reported elsewhere in this Item 6 under the section titled “Share Ownership”.
Executive Compensation
The annual compensation of our executive directors is approved by the Nomination and Remuneration Committee, within the parameters set by the shareholders at the general meeting. Remuneration of our executive officers, including our executive directors, consists of a fixed component (base salary) and a variable performance linked incentive. The variable performance linked incentive portion is earned under our Variable Pay Scheme. This is a variable pay program for all employees, including executive officers, which is deemed to be part of each employee’s salary. The variable pay of our executive officers, including the Chief Executive Officer and Managing Director, is based on clearly laid out criteria and measures, which are linked to the desired performance and business objectives of the Company. The criteria for variable pay, which is paid out quarterly / annually, includes financial parameters like revenue and operating margin achievement against target, incremental consolidated net profits of the Company over the previous fiscal year, and other strategic goals as decided by the Board