LIC Employer Employee Insurance Plans

LIC Employer Employee Insurance Plans LIC Employer Employee Insurance plans under section 37 (1) of Income Tax Act. For more infor, call me at 9480240513 or 9886568000.

For more info call me at 9886568000 or 8123108000
19/10/2020

For more info call me at 9886568000 or 8123108000

11/10/2017

Employer Employee Insurance-Interpretation of Tax Implications

Premium paid by Employer is taken as business expense and is a deductible expense U/s 37(1) of IT act.
Premium paid by employer is considered as ‘perquisite’ in the hands of the employee and hence will become a part of income chargeable to income tax for the employee, u/s 17(2)(V) of IT act.
Premium paid by employer can be claimed for IT Rebate U/s 80C by employee.
The maturity of the policy will be tax free in the hands of the employee under Section 10(10)(D) of Act, 1961

11/10/2017

enefits to Employer

Increase in loyalty of the Employee
To minimize Employee attrition rates, which hurt business (The expense of recruiting and training new employees is high).
Enjoy Tax Rebates on the premium paid
Attractive incentive to retain TALENT.

11/10/2017

Objectives of Employer Employee Insurance:

Provide this as an additional benefit to the employee in order to retain the services of the Employee
Make provision as a welfare measure for the dependents of the employee, in case of premature death or old age provision for employee himself.
Provide this as an employer sponsored fringe benefit which is a valuable part of the compensation

11/10/2017

How can SMEs buy this scheme and avail of the tax benefits?

An employer can decide the quantum of insurance on the basis of CTC, qualification, experience and previous record of the employee.
A proposal form stating that they have opted for the employer-employee scheme & will be paying premiums on behalf of the employee has to be signed by an authorized signatory of the Employer along with the seal or stamp of the entity.
It should also mention the names of the employees to be covered along with the Plan type, Term, Sum assured, & the riders.
The assignment form duly filled in and signed by the authorized signatory making an assignment in the name of the employee should be submitted to the insurer at the proposal stage.
The nomination form duly filled in and signed by the employee making a nomination should also be submitted at the proposal stage.

http://licbangalore.com/employer-employee-plans.html
03/09/2017

http://licbangalore.com/employer-employee-plans.html

Employer employee policy 9480240513 for all companies, Organisations and Institutions to get their Employees insured under Employer employee schemes and avail Tax Exemption under section 37 (1) of Income Tax Act, 1961.for more information on Employer employee Insurance and Health Insurance plans, ca...

03/09/2017

Employer Employee schemes for retention and Tax Savings. Call me at 9886568000 for more info.

https://lickanyadaanpolicy.blogspot.in/
05/08/2017

https://lickanyadaanpolicy.blogspot.in/

Girl child is a special gift from God. Give them good education and future. Insure under Kanyadaan Policy and save their future. Call at 9886568000 or 9480240513 for more information.

http://www.licagentinbangalore.com
08/07/2017

http://www.licagentinbangalore.com

LIC Agent Bangalore 9886568000 Shivakumar A for LIC Life Insurance and Tax Saving plans. LIC Jeevan Anand, Children plans, Pension Plans. Call me now....

Address

#23
Bangalore
560025

Telephone

9886568000

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