This excerpt taken from the INFY 20-F filed Apr 26, 2005.
Subject to the limits of 5% and 10% of the net profits as the case may be, as laid down in sub-section (3) section 309 of the Companies Act, 1956 and the overall limits of 11% of the net profits, as laid down in sub-section (1) of section 198 of the Companies Act, 1956 and further subject to the approval of the Central Government, if any in terms of sections 198, 269, 309, 310 and 311 of the Companies Act, 1956, the Company shall, in consideration of his services to the Company, pay to the Director during the continuance of this agreement the following remuneration.
At the rate of Rs. per month from with an increase of up to a maximum of % annually.
In addition to the above, the Director shall be entitled to perquisites as per company rules. The Director shall also be eligible to :