L&T Chairman SN Subrahmanyan Earned ₹51 Crore in FY24

Larsen & Toubro L&T chairman SN Subrahmanyan earned ₹51 crore in FY24. It is 534.57 times the median salary of the company’s employees. Here is a detailed outline of the same:

Breakdown of SN Subrahmanyan’s ₹51 Crore Salary

As per L&T’s Integrated Annual Report for 2023-24, the salary components of SN Subrahmanyan are detailed below:

• Salary: ₹3.60 crore
• Perquisites: ₹1.67 crore
• Retirement Benefits: ₹10.50 crore
• Commission: ₹35.28 crore

His total remuneration of ₹51.05 crore marks a 43.11% increase compared to the previous year. L&T chairman Subrahmanyan faced criticism for promoting 90-hour workweeks during an employee engagement session. In an undated video, he expressed regret that employees did not work on Sundays and dismissed the importance of home life, stating that the Chinese work ethic was a benchmark for success.

This drew sharp backlash from social media users and public figures like Deepika Padukone and Harsh Goenka. Critics highlighted the disparity between Subrahmanyan’s comfort and the work-life balance expected of L&T employees.

In response, L&T issued a statement emphasizing its commitment to India’s development and asserting that Subrahmanyan’s comments align with the company’s vision of achieving remarkable success. While L&T’s aspirations for excellence are commendable, the backlash underscores the importance of balancing employee well-being with professional goals.

Whether you’re managing a small team or a large workforce like L&T, our payroll solutions can streamline your operations, reduce administrative burdens, and ensure your employees’ salaries, benefits, and commissions are handled professionally and efficiently. At Vakilsearch, we offer comprehensive payroll services to help businesses manage employee compensation with ease and accuracy. Our team ensures timely and compliant salary processing, tax calculations, and adherence to all legal requirements.  

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Akash G Varadaraj

Content Writer at Vakilsearch

I'm Akash. G. Varadaraj, an official content writer at Vakilsearch with over four years of experience. I'm here to simplify complex legal concepts into easily accessible articles that even a layman can understand. As a regular contributor to this news portal, I aim to keep you informed in the dynamic world of law, compliance, taxation, and much more. I ensure that you get to know our Vakilsearch expert's take on every piece of news, how it can help, and what you should do.

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