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Meal Allowance

The document defines a process for employees of Hiveloop Technology to claim a tax benefit of up to INR 26,400 per year for meals purchased during working hours. Eligible employees will receive a meal card to purchase meals from an affiliated vendor and must submit purchase bills and documents as required to receive the tax exemption. Employees have the option each year to choose whether to avail of the meal allowance benefit.

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Vikas D
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291 views1 page

Meal Allowance

The document defines a process for employees of Hiveloop Technology to claim a tax benefit of up to INR 26,400 per year for meals purchased during working hours. Eligible employees will receive a meal card to purchase meals from an affiliated vendor and must submit purchase bills and documents as required to receive the tax exemption. Employees have the option each year to choose whether to avail of the meal allowance benefit.

Uploaded by

Vikas D
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Meal Allowance

1. Purpose: To define a process for claiming tax benefit on the allowance spent on meals during working hours.

2. Scope: All the Employees of the organization will be eligible to claim a tax benefit on the amount spent on meals
during the working hours.

3. Organization: Hiveloop Technology or any of its affiliates or group company.

4. Employees: Employee shall mean a permanent on-roll employee of Employer.

5. Employer: Employer shall mean the Organization on whose payroll the Employee is.

6. Entitlement: The maximum entitlement for claiming a tax benefit on meals allowance is INR 26,400 per annum.

7. Details:
7.1. As per the Income Tax Act, the allowance spent by an Employee on meals during working hours is fully
exempt from income tax on production of actual bills. To ensure this benefit is availed by the Employee, we
have a tie-up with Sodexo for meal card, which can be swiped at the POS after purchase of meals.

8. Tax Treatment:
8.1. The Employee has an option to decide whether to avail the meal allowance benefit at the beginning of any
financial year or at the time of joining the organization
8.2. In order to claim the tax benefit and the claims to be processed, the Employee shall be liable to produce bills
and other proof including but not limited to any such documents as may be notified by the tax authority,
evidencing the benefit availed by the Employee need to be submitted as and when required (as per the
Investment Proof submission calendar of the organization)
5.3 The claim will be processed as per the proof submitted by the Employee, in accordance with the,
guidelines of the policy and the prevailing tax laws and the reimbursements will be made accordingly.

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