Taxable perquisite in Group medical insurance

Manish (CA) (1076 Points)

27 July 2021  

Hi members,

The query is about a company that has bought a medical insurance plan for its employees and their families. The company paid the premium cost, and it recovers 20% from employees' salaries.

e.g., the premium per person is 2,000, and for a family of 3, it becomes 6,000. The company recovers 1,200 from salaries.

Now, what would be the amount of perks, if any, and the amount of deduction available to employee u/s section 80D?

Thanks