Perq. and fringe benefits are quite similar as both terms are used for the benefits provided by the employer to the employee during employment along with cash wages or salary.
Expense done by employer on the entertainment facilities of employee counts under fringe benefits while free education facility provided to employee's children came under perquisites.
The basic difference between fringe benefits & perquisite is that while fringe benefits are not clubbed with salary & the tax on the same is paid by the employter, the perquisites are clubbed under the head "income from salary" & tax accordingly to employee.
Thus while fringe benefits are taxed in the hands of employer, the perquisite are taxed in the hand of employee himself.
For definition & meaning refer: http://www.scribd.com/doc/16160593/Perquisites-and-Fringe-Benefits
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