Chanda Kochhar Salary, Net Worth

In this article, we will learn about Chanda Kochhar salary and net worth.

Chanda Kochhar was born on 17th November 1961.

She was the Managing Director and Chief Executive Officer (CEO) of ICICI Bank, India’s largest private sector Bank.

She stepped down from her post on 4th October 2018 in the wake of controversy relating to the dealings between ICICI Bank and her husband Deepak Kochhar.

Chanda Kochhar was one of the highest paid executives of the private sector.

The details of her salary and remuneration drawn are as follows:

Chanda Kochhar salary in 2018

Chanda Kochhar Annual Salary

 

 

Basic

26,670,840

Performance bonus for

 

fiscal 2017

22,028,362

Allowances and perquisites

24,387,366

Contribution to provident fund

3,200,496

Contribution to

 

superannuation fund

0

Contribution to gratuity fund

2,221,681

Stock options7 (Numbers)

 

Fiscal 20175

1,375,000

Fiscal 2016

1,375,000

Fiscal 2015

1,450,000

Chanda Kochhar’s annual salary was Rs 7.85 crore in FY 2016-17. Her salary per day amounts to Rs 2.18 lakh.

Under the terms of her employment with ICICI Bank, Chanda Kochhar was eligible to receive remuneration, including performance bonus and perquisites.

She also received special grant of stock options approved by RBI in November 2015 aggregating to 2,100,000.

In addition to the salary, Chanda Kochhar also received perquisites (evaluated as per Income-tax rules wherever applicable and otherwise at actual cost to the Bank) such as the benefit of the Bank’s furnished accommodation, gas, electricity, water and furnishings, club fees, group insurance, use of car and telephone at residence or reimbursement of expenses in lieu thereof, medical reimbursement, leave and leave travel concession, education benefits, provident fund, superannuation fund and gratuity, were provided in accordance with the scheme(s) and rule(s) applicable from time to time.

She was also eligible for housing loans subject to approval of RBI.

As per the approval of the shareholders, Chanda Kochhar’s monthly basic salary was within the range of Rs 1,350,000 – Rs 2,600,000.

Chanda Kochhar Net Worth

Chanda Kochhar’s Net Worth can be estimated at Rs. 75 crore.

This net worth has been amassed by her from her salary and other income in the form of dividends on stocks and shares and interest on fixed deposits.

She has been carefully investing all her earnings in investments in the form of real estate (flats and farm house), jewellery, stocks and shares and bonds of companies.

These investments have been steadily growing in size and have contributed to her present net worth of Rs. 75 crore.

It is notable that Chanda Kochhar’s husband, Deepak Kochhar, is also a well placed businessman with high earnings of income.

Deepak Kochhar’s income can be estimated at Rs. 5 crore per annum and his net worth is Rs. 50 crore.

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