Flexible Benefit plan


FBP can be configured either based on FBP SLABS or on CATEGORIES like, DEPARTMENT, LEVELS etc…


To configure FBP based on CTC SLABS.


Go to Employees menu >> More tab >>  Expand Transactions Section >> Under Flexible Benefits >> Click on CTC Slabs link


Enter From CTC, the starting amount of the CTC slab; it is “0” to start with

Enter To CTC, the maximum limit of that slab and click on Add button

 

To add more slabs, click on “Add”. In the 2nd slab and thereon, “From CTC” field will display the maximum amount entered in the previous slab. Enter the maximum limit in “To CTC”.


Configure CTC Mapping, after CTC Slabs are added.


Go to Employees menu >> More tab >>  Expand Transactions Section >> Under Flexible Benefits >> Click on CTC Mapping link


  • FBP Component: Select the FBP component from the Dropdown list.
  • From CTC and To CTC: This data will get automatically populated as per the information entered in the slabs.
  • Type: Select whether eligibility is based on Percentage [%] or Flat amount
  • Value: Enter the value based on Type selected
  • Calculated on: Select Basic / CTC, if the Type is select as Percentage [%]

Click on Apply button to save.


To configure FBP based on CATEGORIES.

 

Go to Employees menu >> More tab >>  Expand Transactions Section >> Under Flexible Benefits >> click on Category Mapping link


  • Category: This field will get displayed as per the configuration done in Payroll Settings >> Company Profile >> Add-on Modules tab
  • Branch: Select from the drop down list.
  • FBP Component: Select the components applicable to the selected category and branch.
  • Type: Select whether eligibility is based on Percentage [%] or Flat amount
  • Amount / %: Enter the value based on Type selected
  • Calculated on: Select Basic / CTC, if the type is Percentage [%]

Click on Apply button to save the configuration.


Click on View/Edit link, to do additional configuration.

 

Allow lower declaration: Select this option to allow lower declaration than the eligibility set.

Allow carry forward of low/excess bills: Select this option, if excess claimed bills amount should get carry forwarded to next month and balance bill amount will get paid out next month as per eligibility.

Allow carry forward of eligibility: Select this option to carry forward the FBP declaration amounts, which would get accumulated and employees can claim the accumulated amounts.

Allow Adhoc full claim: Select this option to allow employees to claim against the full year’s eligibility amount, irrespective of any processing month and eligibility.

Allow annul claim: Select this option to allow declaration with condition/timeline, on selected Restriction month and last date of declaration.

Auto Claim: Selection of this option will allow users to auto process components without collecting/approving submitted bills, this case would be used on components like Sodexho.

Exclude Component: Select components from the list of FBP components which is already created. Selected components will not allow employees to declare FBP along with the configured components.