Question

item is not included in salary income 1)provident fund 2)perquisites 3)retirement benefits 4)pension

Answer 1

Explanation:

Among the various options given in question statement the correct option is option 3rd that is retirement benefits.  

In salary income, the basic and the gross salary are listed as well as the deductions from an employee account for provident and pension funds are also mentioned along with the contribution of company in these heads. But the retirement benefits, ex gratia are not mentioned . They are calculated upon the retirement of an employee

Answer 2

Retirement benefits are not included in the salary income.

• Retirement benefits represent the economic benefits available on official retirement or early removal from active service to a prominent member of the pension scheme.
• These direct benefits generally include, a modest pension, gratuity, provident and pension fund, insurance schemes, etc.
• Whereas the salary income properly includes the basic pay, medical and travel allowances, HRA or any other financial variables liable to be typically paid.