Question

What is meant by perquisite?What are the provisions related to perquisites?​

Answer 1

Perquisite means the perks or the benefits or privileges one can enjoy aside from the regular salary or wages. Examples of a perquisite are free company car, free travel, free hotel accommodation, health insurance or a performance bonus. These are usually given by an employer to their employees or by a contractor to a company.

Answer 2

What is meant by perquisite?What are the provisions related to perquisites?​

Perquisites are benefits provided by Employee to in addition with Salary.

These are also called fringe benefits.

Perquisites can be Taxable or Exempted from Tax.

Few examples of perquisites are :

1. Rent Free Accommodation  ( company Lease Accommodation)

2. Company Lease Car