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Fringe benefits or other incidental profits or benefits accompanying an office or position.

The abbreviation perks is used in reference to extraordinary benefits afforded to business executives, such as country club memberships or the free use of automobiles.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.


Collins Dictionary of Law © W.J. Stewart, 2006

PERQUISITES. In its most extensive sense, perquisites signifies anything gotten by industry, or purchased with money, different from that which descends from a father or ancestor. Bract. lib. 2, c. 30, n. 8; et lib. 4, c. 22. In a more limited sense it means something gained by a place or office beyond the regular salary or fee.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
On the other hand to compensate for the increased costs which result from central cost allocations and the consumption of perquisites, divisional managers can manipulate accounting conventions in such a way that they produce adequate profit.
If the car is for personal use and running and maintenance expenses are paid by the employer, the actual expenditure incurred by the employer, including the remuneration of the chauffeur along with an amount representing normal wear and tear of the car (10 per cent cost of the car or hire charges if the car is hired) is taxable as a perquisite.
Prior to the change in regulation for fiscal years on or after December 15, 2006, Item 402(b) of SEC Regulation S-K required that the value of perquisites be included in the "Other Annual Compensation" column of the Summary Compensation Table in the annual proxy statement if the aggregate exceeded the lesser of $50,000 or 10% of the executive's total annual salary and bonus.
Nevertheless, worsted workers staunchly defended their takings as perquisites, roughly akin to the practice of gleaning in the agricultural economy.(39)
Interestingly, only 4% of the S&P 500 companies reported eliminating at least one perquisite in the most recent year, with no single type of perquisite being eliminated most often.
The Delhi High Court has recently held that amounts paid directly by a foreign employer to discharge its employees' income-tax liability would not be treated as a taxable perquisite in India as it is exempt under section 10(10-CC) of the Income-tax Act, 1961.
The new tabular and narrative disclosure breaks down into three broad categories: compensation of "named executive officers" over the last three years, holdings of outstanding equity-related interests received as compensation--which are the source of future gains and retirement plans--and deferred compensation and other post-employment payments and benefits, including severance, change-in-control benefits, perquisites and stock option granting practices.
Perquisites * Executive convenience items * Executive well-being items * Alternative forms of compensation
He said peace in Afghanistan is perquisite for peace in the entire region and Pakistan wants a peaceful Afghanistan.
He said better hotel facilities and state of the art infrastructure are perquisite for the promotion of tourism in the country.