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For the purpose of providing an ease in commutation facility Wipro offers its employees a benefit in form of Car Lease option. Car lease option is available only for 2/3/4/5 years. The EMI limit under this scheme cannot exceed 75% of your WBP.

What benefits does a Wipro employee get apart from his salary? Just like every companies have Medical insurance Wipro has the same. Leaves , relocation allowance etc is the same like every company has in their policy. But one facility Wipro has is that you can take urgent loan like Contingency loan etc.

Leasing a car can help you save up to 30% of your vehicle-related expenses from getting taxed. The employee using the car must show that they have been regularly using the vehicle for company-related purposes. They can enjoy tax benefits on the lease amount, fuel costs reimbursement, and the driver's salary.

If the lease meets any of the criteria, then it must be recorded as a finance lease. The five criteria relates to a bargain purchase option, transfer of ownership, net present value of lease payments, economic life, and whether the asset is specialized.

The two most common types of leases are operating leases and financing leases (also called capital leases). In order to differentiate between the two, one must consider how fully the risks and rewards associated with ownership of the asset have been transferred to the lessee from the lessor.

The key differences between a car lease and a car rental are length of contracts, where you get the car, and how you're covered by auto insurance. A lease typically lasts for two to four years, while rentals can last anywhere from a day to several months.

There are two types of schemes: Company car-owned policy and company car lease policy. Employees who are eligible can opt for either of the schemes. If the car provided by the employer is used for personal use and the expenses are incurred by the employee, the entire amount will be taxable.