Vijayakumar, who took over as CEO from Anant Gupta in October 2016, was paid Rs 7.06 crore in 2016-17. In effect, this is his first full year salary as CEO.
The salary of the Chief Executive Officer of HCL Technologies, C Vijayakumar rose nearly five times to Rs 33.13 crore in the 2017-18 financial year, according to the company's annual report.
Vijayakumar, who took over as CEO from Anant Gupta in October 2016, was paid Rs 7.06 crore in 2016-17. In effect, this is his first full year salary as CEO.
This places him among the highest paid CEOs in the top four IT companies in India.
Vijayakumar, or CVK as he is popularly known, is paid through a subsidiary of HCL Technologies, the annual report said. In contrast, India's largest IT services firm Tata Consultancy Services' CEO Rajesh Gopinathan's salary doubled to Rs 12 crore during the same period.
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Infosys' top boss Salil Parekh, who took over in January 2018, can potentially earn up to Rs 34.45 crore a year given he achieves targets set for him by the management.
Wipro's Abidali Neemuchwala's salary rose over 34 percent in FY18 to Rs 18.2 crore.
The highest paid CEO among IT services firms is however, Tech Mahindra's CP Gurnani, who took home Rs 146.19 crore in 2017-18.
HCL Chairman and Chief Strategy Officer Shiv Nadar's salary during the year 2017-18, was 66.25 percent lower than the previous year.
In FY18, Nadar's remuneration was Rs 1.64 crore, down from Rs 10.30 crore in the year ago period. While this represents an 84 percent fall, the annual report said the 66.25 percent was arrived at by taking into account the remuneration Nadar received from other units of the company.
More crorepatis
HCL Technologies, now the third largest IT services company in India, had 28 "crorepati" employees (excluding CVK), up from 23 full time employees who were paid in excess of a crore in FY17.
The highest paid after CEO Vijayakumar is Chief Financial Officer Anil Chanana, who took home a salary of Rs 4.74 crore in FY17-18.
In addition to his salary, Chanana received Rs 3.32 crore as remuneration from a subsidiary of the company, the annual report said.
Chanana, who has been the CFO of HCL Technologies since 1998, is set to retire at the end of the year.
Anant Gupta, CEO Vijayakumar's predecessor, received Rs 8.18 crores in the current financial year in full and final settlement of his dues. He quit HCL in October 2016.
Other crorepatis include Maninder Singh Narang, the corporate vice president, infrastructure delivery, APMEA / Europe, who was paid Rs 3.87 crore during the year and Ajit Krishnankutty Kumar, President - Systems Integration & Applications, Delivery, who drew a salary of Rs 2.8 crore.
Others with a salary above Rs 1.2 crore include Amit Roy, Executive Vice President - Taxation; GH Rao, president engineering and R&D services; Apparao VV, Chief Human Resources Officer and Vineet Vedprakash Sood, Executive Vice President.