Employers in India gift their employees in cash or kind. These gifts are perquisites that an employee receives from his/her employer other than wages or salary. It is usually linked to performance or is a way for an employer to provide a gift during a festival.
During a financial year, about Rs.5,000 worth of gifts and vouchers received by an employee are tax exempted.
Various e-commerce companies and other retail business offers gift cards which are popular ways to provide this perquisite to an employee.
However, this brand specific gift card restricts the usage of the gift card to be used at that particular business. The employee thus has to opt for something from that specific brand which the employee may or may not like/need.
Introducing Paysack Gift Wallet + Card for Enterprise
Paysack helps you simplify employee gifting by providing employees with the Paysack Gift Wallet + Card. The gift card comes with no brand specific restriction there by giving the employee the freedom to use their Gift Card.
If you want to provide completely Digital Employee Benefits and Reimbursement platform for your employees, do get in touch.
Happy to talk.
Co-Founder & CEO
Learn more about other other tax saving employee benefits and reimbursement options like – Meal Vouchers, Petrol Card, Mobile and Internet Recharge, and Medical Reimbursement.