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Yes, it will become like fixed however keep in mind that 50k out of that 1.5Lakh is premium for your insurance so you will not get it back in hand regardless of you do anything
+1 to above.
Rest of 1 lakh is sodexo, if you don’t use sodexo or reimburse anything you’ll get at the end of financial tear after tax deduction.
Whatever amount you do use / reimburse from 1 lakh will be exempted from tax
If you don’t show any bills for this, it will come in your march salary after tax deductions