Preq. of rent free accomodation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 December 2013
Dear all,
kindly help me in solving the following issue-
As per the norms of the company an employee is eligible to take a house on rent for rs-10000 and the company will pay the lease rent. But due to high cost of living employees normally do not get accommodations within eligible limits so they go for higher amount and the difference is recovered by the company.
Example- Basic salary-RS-30000/-
Lease rent paid by company- Rs-14000/-
Eligible Lease rent limit-Rs-10,000/-
Balance being recover by the company- Rs-4000/-
my doubt is what will be value of perks-
option-I- value of perk-15% of basic-4500
Option II -15% of Basic-4500
LEss :- rent recovered- 4000
Value of perk-500
Kindly guide me in this regard
kindly help me in solving the following issue-
As per the norms of the company an employee is eligible to take a house on rent for rs-10000 and the company will pay the lease rent. But due to high cost of living employees normally do not get accommodations within eligible limits so they go for higher amount and the difference is recovered by the company.
Example- Basic salary-RS-30000/-
Lease rent paid by company- Rs-14000/-
Eligible Lease rent limit-Rs-10,000/-
Balance being recover by the company- Rs-4000/-
my doubt is what will be value of perks-
option-I- value of perk-15% of basic-4500
Option II -15% of Basic-4500
LEss :- rent recovered- 4000
Value of perk-500
Kindly guide me in this regard
05 December 2013
the value of perks will be after recovery of excess rent from employee that is
Option II - 4500-4000 balance Rs.500
Option II - 4500-4000 balance Rs.500
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