23 May 2014
amount of LIC premium include in salary of employee . and taxable for employee. and allowed for employer if it under the employment agreement . otherwise not allowed.
23 May 2014
It is a pvt ltd company that wants to claim say Rs.8,00,000 as an expense which is a payment towards LIC premium of an employee, So in this case is there any way where the premium won't form part of the employee's salary and the same is claimed as an expense by the company by showing in staff welfare expenses. As it had been done in case of paying premium for Keyman Insurance Policy scheme.
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