Perquisites is a part of the salary income. However, it is not a fixed benefit. Instead, it is a variable amount which is reimbursed by the employer to the employee. Perquisites include:
- services of drivers, house keeper or gardener,
- utilities such as electricity, gas, water & telephone,
- motor vehicle provided for employee’s use either wholly or partly for private purpose,
- loan obtained by an employee from the employer. The benchmark rate over this loan is 10 {1bb28fb76c3d282be6cfd0391ccf1d9529baae691cd895e2d45215811b51644c}. Such rate is applicable only when loan amount is 01 million or more,
- accomodation,
- any obligation waived by the employer against employee.