Perquisite Law and Legal Definition
A perquisite is a special benefit for executives that are usually non-cash items. Another common term for a perquisites is a "perks". It is something gained from a place or employment over and above the ordinary salary or fixed wages for services rendered. Certain perquisites are treated as taxable income.
A perquisite may include, among others, the following benefits:
- House Rent Allowances
- Rent Free Accommodation
- Travel Allowances
- Medical Allowances
- Entertainment Allowances
- Utility Allowances
- Clothing Allowances
- Stock Options
