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Can the premium paid on Life Insurance Policy for employees be claimed as expense in P&L A/c by a employer?
Expenses are allowable :
a) If they are not personal in nature
b) If the expenses is not a capital expense
Insurance premium on employees paid by employer ia an allowable expense. As it is like any other staff expenses (salary,bonus)
agree with phalgun
It is treated as amount for benefits of employees.....deduction for these expenses will be allowed to employer
its treated as employees benifits... this exp allowed for deduction
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