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