Author Topic: Tax Free benefits to employees in India  (Read 1067 times)

Offline certforumz

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Tax Free benefits to employees in India
« on: July 19, 2018, 01:38:37 AM »
1) Leave Encashment - No exemption during employment, however exempt with certain limits at the time of retirement.
2) A maximum of Rs.19,200 paid by the employer as transport allowance can be exempted from taxable income.
3) Up to Rs.12,000 in meal coupons/free meals provided by the employer can be exempt from tax in any financial year (assuming 20 working days a month).
4) Gifts/ Vouchers Received from the Employer: Up to Rs. 5,000 in gifts made in cash or kind can be exempt in any given financial year.
5) Medical Insurance Premium Paid by Employer on your Behalf: As per section 80D
6) EPF up to 10-12% of basic pay.

If a person is appointed as executive director then he/she will be treated as employee, whether he/she take remuneration from the company or not. In case of MD/WTD, they will be treated ad executive director and treated as employee of the company.

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