Hi, Our organization has introduced food allowance this FY and starting deducting tht frm April - Till date for those employees who opted for this. However, the amount has not been disbursed to the individual a/c due to various delays in onboarding Vendor etc…
Finally when the Vendor is onboarded, we see, there are certain RBI Audit going on and they cannot accept new customers or compete KYC until Audit is complete. Now My question is for those employees unable to expense it via food coupon or wallet.
Should n’t ideally Payroll reverse the pay? And how will this affect the tax calculations? When we reverse the amount, what shud we mention this as? Arrears?