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QUESTIONS
Q1
Basic salary = 40000 p.m.
Company owns club where Employees get free use
Cost of running the club per member is Rs.2000 P.M and fees charged from members is Rs.3000
However Employees can use if for free
Calculate income from salary
---answer--
Value of club Perquisite Rs.2000x12 = 24000
Q2 Suppose club facility is not free Employee have to pay a nominal charge of Rs.500 per month
View answer
Value of club Perquisite = (2000 − 500)x12
= 1500 x12
= 18000
Q3 Suppose Employee and his wife has joined a health club and they pay Rs.3000 each (6,000 for both)
As per company policy they claim reimbursement of the same of maximum Rs.5,000
What is the value of Perquisite.
---answer--
Value of Perquisite = 5,000 p.m.(60000 annually i.e.the Cost to the Company)
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