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of <h1>Clarification on 'Remuneration' and 'Last Employment Held' under Companies Rules 1975: Perquisites Valuation and Exclusions Explained.</h1> The circular addresses the interpretation of 'remuneration' and 'last employment held' under the Companies (Particulars of Employees) Rules, 1975. It clarifies that for calculating employee remuneration, the valuation of perquisites like residential accommodation and furniture should be based on 10% of the original cost, ensuring cost recovery within the asset's useful life. Additionally, it confirms that expenses for repairs and maintenance of such assets should not be included in employee remuneration if already accounted for in the housing perquisite valuation.
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