Employees Benefits

 

       Employees Benefits

• The maturity benefit will be paid to employee because the policy shall be assigned in his favour.

• In case of unfortunate death of employee the death benefit will be given to employee’s family.

• Since premiums will be paid by employer, there is no fear for lapsation of policy.

• The premiums will be eligible for rebate to the individual employee under sec 80 C of Income tax act. 

• The maturity and death benefit will be exempt from tax. 

• However, premium shall form a perquisite in the hands of the employees under sec 17(2) V of income tax act.

• The employee will have increased status and will feel honored.