ATW Gift Cards, a Motivation Tool for Employees

Gift the freedom to choose - Gift an ATW GIFT CARD - the perfect gift for every occasion !!!

The card has been packaged to suit any gifting occasion and is available for any denomination of your choice. It gives gifting the personal touch that we all desire and also gives the beneficiary the freedom to choose the way they want to use it!

So go ahead, visit any branch and gift this unique gift to your relatives, friends, colleagues...anybody that you ever gift!

Features & Benefits

More personal than cash
Most often than not, we run short of time or ideas to gift - we then make do with gifting cash! This card with its occasion-based packaging is more personal than cash, as it reflects the thought and effort that has gone behind the gift.

Freedom of choice
While the card is more personal than cash, it also allows the cardholder (the beneficiary) the freedom to choose their own gift. Shop, dine, party - the cardholder can use the card just the way he/she wants. This is the freedom this card gifts the user.

Ease of usage
ATW Gift card is a Visa card and can hence be used at any Visa affiliated merchant outlet , both in India and abroad. This gives worldwide usage access to over more then 13 million merchant establishments.

Ease of tracking
ATW Gift Card has an ATM PIN and also an IPIN in the card kit.

The ATM PIN allows the card holder the access to any ATM for balance enquiry on the card. The IPIN gives further access even to the transaction history. The card holder can use this option and even download the usage statements. Also, the cardholder can call up the customer care number for any further query

BENEFiT TO THE EMPLOYEE

þ A host of value added benefits are offered to employee through various promotions/awards.
þ Wider affiliated network, freedom to choose as per their individual requirements & preference.
þ A friendly salary structure that gives them maximum possible advantage.
þ Easy to carry, easy to load & easy to pay.
þ ATW DINiNG CARD comes with medical & insurance facility.

FRiNGE BENEFIT TAX

Statutory Provisions

Sector 115 WB (2) (B) provides as under:

(B) Provisions of hospitality of every kind by the employer to any person, whether by way of provisions of food or beverages or in any other manner whosoever and whether or not, Such provisions are made by reason of an express or implied contact or implied contract or custom or usage of trade but does not include: -

1. Expenditure on. Or payment for. food or beverages provided by the employer to his employees in office or factory;

2. Any expenditure on or payment through pre paid coupons/cards which is not transferable and usable only at eating joints or outlets;

Thus, according to section 115 WB (2) (B), fringe benefits shall be deemed to have been provided by the employer to his employees, if the employer has, in the course of his business or professions (including any activity whether or not such activity is carried with the object or deriving income, profits or gains) incurred any expenses on. Or made any payment for provision of hospitality to any person ‘as described above

Statutory Definition

Clause (B) of section 115 WB (2) (B) defines hospitality; the statuary definition in clause (b) has the following noteworthy features:

þ A provision of hospitality of every kind by the employer to any person is covered.

þ Hospitality can be by way of provisions of food or beverages or in any other manner whatsoever.
þ The motive with which it is incurred in irrelevant
þ It does not matter whether such hospitality is provided by reason of an express or implied contract or custom or usage of trade or not.
þ Food and beverages to employees, office or factory is excluded from hospitality and exempt from FBT.
þ Provisions of food to employees any place other than office or factory (if provided other wise than through non-transferable food coupons/ cards) will come under the definition of hospitality.
þ Food and beverages provided through non transferable coupons/cards (to any one ) is excluded from ‘ hospitality’ and exempt from FBT

WHAT IT MEANT BY NON-TRANSFERABLE FOOD COUPONS/ CARDS ?

In ordered to be considered as a non-transferable food coupon for FBT purpose, the following conditions should be satisfied:

coupons/Cards can used be usable only at ‘eating joints’/ ‘eating outlets’ to buy meal/beverages;

It should not be in cashable, i.e., redeemable for cash.

Coupons/Cards pre-paid/loaded.

Coupons/Cards are not transferable, i.e.; it should be used only by the person to whom it is issued.

USERS: This Pre-loaded; ATW Dining Cards is non- –transferable. Valid only for food and beverages in the affiliated network of VISA, during permissible hours only. No extra charge will be levied.

AFFILIATES NETWORK: This card can be taken only as a payment for food and beverages, during permissible hours only. NO changes would be given in exchange/charge for this card. The charge made with this card can be reimbursed in accordance with company’s terms and conditions within next working day & wit in the validity of the card date. On the merchant charge slip, obtain the signature of the card holder.

This card remains the property of ATW and it is not transferable. If a card is lost/ stolen/ misplaced, ATW will replace the card with replacement charges, and will not be liable for any misuse of the card.

The card also contains the following declaration with user’s Signature. “ I have myself used this coupon for food/ beverages only”.

EATiNG JOINTS OR EATING OUTLETS

There is no definition of this expression in law or in the circular. The following are example of eating joint/outlets;

þ Restaurants þ Coffee Shops þ Sweets shops þ Cafeteria þ Pizzeria þ Fast Food joints þ Bakery þ Office Delivery þ Milk Center þ Dry Foods stores