hi! these are old limits. current notification talks about a limit of Rs 50 per meal. however, it also talks about use of vouchers during working hours for food and non-alcoholic beverages. well, how do you ensure usage during working hours. i also came to know that there were letters being issued by the IT department to some of the companies questioning them on steps taken by them to ensure law compliance when using meal vouchers. I think the IT department is concerned about the misuse of meal vouchers and wants to encourage canteens within companies which is evident from the reduction of meal voucher limit in an inflationary economy.
My take would be to have an in-house canteens (which most of the companies have) and provide meal allowance electronically every month. in case the employees do not exhaust the entire allowance provided to them during the financial year, refund them that amount as taxable income. this provides the employees an option to use the canteen if they want to, save on tax if they want to use the canteen, protects the companies from any legal hassles etc.etc. I know of companies that are helping companies through these kinds of systems.
rgds,
SM