Infosys CEO Salil Parekh’s compensation  has increased 88 percent to Rs 79.75 crore a year, making him one of the  highest paid executives in India

As the software services firm justified the fat hike citing industry-leading growth in recent years.

The new employment agreement, subject to shareholder approval, will come into effect on July 2


For FY22, Parekh took home a salary of  Rs 71 crore, of which Rs 52 crore came from exercising RSUs or  restricted stock units granted to him before.

Infosys co-founder and chairman Nandan Nilekani voluntarily chose not to receive any remuneration for his services rendered to the company.

Such an enormous salary hike is unusual  for a firm that often prides itself on humble origins and middle class  background of founders.