Foodplus Card - Meal Card

Frequently Asked Questions

What is a Food Card?

A Food Card is a prepaid card that covers an employee’s meal expenses. Companies issue the cards to their employees for food related expenses. Cardholders can pay for food and beverages at only food-based point-of-sale (POS) terminals or online sites.

What is the limit of a Food Card?

The HDFC Bank Food Card can have a maximum balance of ₹2 Lakh at any given point of time.

How does a Food Card work? 

A Food Card is a prepaid card that is loaded/funded by the company with a fixed monthly allowance basis the employee's compensation plan. The card are best suitable for the corporates to provide meal allowances to their employees. Note that such cards are non-transferrable and do not allow cash withdrawal.

Are Food Card transactions taxable?

Per Section 17(2)(viii) of the Income Tax Act, 1961, food purchased using a non-transferrable paid voucher usable at food outlets is not taxable if the cost to the employer is ₹50 or below, per meal-2 meals a day considering 22 working days in a month for the employee.