Reliance Industries’ chief Mukesh Ambani has agreed to forgo all his remuneration, while RIL’s board of directors, including executive directors, executive committee members and senior leaders, will forgo 30-50 per cent of their compensation.

RIL has also deferred the annual cash bonus and performance-linked incentives that are normally paid in the first quarter.

Employees with compensation of more than Rs 15 lakh will take a 10 per cent reduction in fixed pay.

However, those with less than Rs 15 lakh will have no cut in pay.