Regarding terms “remuneration” and “last employment held” and other matters connected therewith clarified - Companies Law - Letter: No. 8/27/(217)75‑CL‑V,

Letter: No. 8/27/(217)75 ‑ CL ‑ V, dated 15 ‑ 7 ‑ 1977. Subject:-Board s report - Companies (Particulars of Employees) Rules, 1975 ‑ Certain queries regarding terms remuneration and last employment held and other matters connected therewith clarified The Department is of the view that the valuation of the perquisites like residential accommodation, furniture, etc., as allowed to employees for calculating remuneration of such employees for the purpose of rule 2(b) of the Particulars of Employees Rules may be evaluated on the basis of 10 per cent of the original cost of such item s. The above percentage would be sufficient to recover the cost within the useful life of such assets. The Department agrees with your views that the expenditure incurred on the repairs and maintenance of residential accommodation, furniture, etc., should not be again included in remuneration of the employees if these have been taken into account in determining value of housing perquisite.