Perquisite Plan

To : HR DEPARTMENT

Enclosed is my Perquisite Plan for the financial year 2018-19.

NAME / BAND / MB(VP)
DEPARTMENT / LOCATION
DESIGNATION / EFFECTIVE DATE
S No /
Heads
/ Maximum
Monthly Limit / Amount
(Per Month) / Remarks
1 / HRA / 50% of Monthly Basic Salary / Needs to be declared in the Investment Declaration Form to claim exemption under the rules admissible under IT act.
2 / Company Leased Accommodation (CLA) / On Actuals / Exemption will be given as per the rules admissible under the IT act.
3 / Company Car Policy / 13.33% of the value of the car or entitlement, whichever is lower, will be deducted from the Perquisite Plan per annum in Equal Monthly Installments (EMI) starting from the month of purchase for a period of three years as per the company car policy.
4 / Vehicle Running & Maint Re-imbursement (In case of Company & employee owned car) / Rs.30,000/- / Re-imbursement shall be done upon submission of original bills of petrol, car maintenance & driver expenses duly approved by the department head.
5 / Direct Debit – Car Insurance Premium / Only if Declared would be debited from the monthly vehicle entitlement and balance can be claimed on monthly basis.
6 / Leave Travel Assistance (LTA) / 3 months basic per annum / Claim has to be made by the employee in the normal TA bill format and the proof of journey (Of at least 4 days) shall be provided along with the claim for claiming tax exemption. The amount spent on Two journeys in a block of 4 years shall be exempted from tax subject to certain conditions as per Income Tax Act.
7 / Medical / Rs 1,250/- / Re-imbursement shall be done upon submission of original medical bills.
8 / Professional Reading Material / Rs 1,000/- / Re-imbursement shall be done upon submission of original bills of reading materials.
9 / Balance (Special Allowance) / To be paid on salary slip itself and is fully taxable.
TOTAL

An employee will have the option to choose the heads from the above and the quantum of amount. However, the amount opted in each head should not exceed the maximum annual limit specified against that head.

Date: ______

Signature of the employee