In the context of employment, "perquisites" refer to the non-monetary benefits or privileges provided to employees by their employer in addition to their salary or wages. These perks are often in the form of facilities, amenities, or benefits that enhance the overall compensation package.
Perquisites can include items such as company accommodation, vehicle usage, medical benefits, stock options, and other non-cash benefits provided by the employer to the employee. They contribute to the overall remuneration and are subject to taxation under the Income Tax Act.
Comments
0 comments
Please sign in to leave a comment.