As I wrote recently, Infosys is very concerned about the increasing salaries of its mid-level employees. But an article in IndiaTimes reports that:

The directors of the country’s second largest IT company, Infosys, saw an 81 per cent jump in their cash compensation in the fiscal year 2007-08.

According to the company’s annual report, the cash compensation to Infosys directors went up to Rs 10.45 crore during the year ended March 31, 2008 compared with Rs 5.76 crore a year ago.

At Infosys, the compensation includes basic salary, allowances and taxable value of perquisites.

The Bangalore-based IT major paid Rs 4.19 crore as commission to its non-executive directors, which was a 135 per cent increase over the previous year’s Rs 1.78 crore, according to the company’s 2007-08 annual report.

The increase in commission was high despite the rupee appreciation against the dollar. The non-executive/independent directors at Infosys include Deepak M Satwalekar, Prof Marti G Subramanyam, Sridar Iyengar, Claude Smadja, David L Boyles and Dr Omkar Goswami.

Anothing interesting fact is that even though the dollar has gained against the rupee, no company is adjusting the paycuts (or no hikes) for employees that they made recently citing the reason of rupee appreciation. Now they are focusing on the recession in US although it has been reported from multiple sources that the recession has not affected the IT industry.