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After the government publishes a reliable translated text in English through an official gazette, we will incorporate the Authentic English Text here.

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2(45). "perquisite" means-

(i) any payment made to an employee by an employer in the form of cash or in any other form excluding basic salary, festival bonus, incentive bonus, arrear salary, advance salary, leave encashment or leave fare assistance and overtime, and

(ii) any benefit, whether convertible into money or not, provided to an employee by an employer, called by whatever name, other than contribution to a recognised provident fund, approved pension fund, approved gratuity fund and approved superannuation fund;