Wipro founder Azim Premji and chairman Rishad Premji have foregone profit linked commission for 2019-20 to show “solidarity” with the company’s team in facing the challenges of Covid-19.

A disclosure to this effect was made by the Bangalore-based company in a filing with the US Securities & Exchange Commission (SEC).

The decision led to the compensation of Rishad Premji falling to $683,496 during the year — a drop of around 31 per cent over the previous fiscal. Azim Premji’s compensation came down to $135,772, a fall of 48 per cent over $262,054 in 2018-19.

While Azim Premji gave up the profit linked commission, Rishad Premji opted out of the variable pay and profit linked commission. In the filing, Wipro said all executives receive variable pay under a quarterly performance linked scheme.

The year also saw the compensation of Abidali Neemuchwala who left the company on June 1 standing at $4.42 million or Rs 31 crore — a rise of 12 per cent over the previous year.

Meanwhile, Infosys CEO Salil Parekh saw his pay package grow about 39 per cent to Rs 34.27 crore in 2019-20. His compensation was Rs 24.67 crore in 2018-19.

The company’s annual report for 2019-20 showed that his compensation included Rs 16.85 crore in salary, Rs 17.04 crore in stock options and Rs 38 lakh under other components.

Infosys chairman Nandan Nilekani voluntarily chose not to receive any remuneration for his services, the report said.

Chief operating officer U.B. Pravin Rao’s compensation rose 17.1 per cent to Rs 10.6 crore in the year from Rs 9.05 crore in the previous fiscal.

However, TCS CEO and MD Rajesh Gopinathan has seen his pay package shrink more than 16 per cent to Rs 13.3 crore in 2019-20 compared with the previous fiscal.

In his note to shareholders, Parekh said the company will monitor the impact of the pandemic as market and client activities evolve.