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Flexible benefit plans help you to plan your expenses and personalize your salary structure to suit your financial year calculations. It is a part of your CTC. FBP is designed with the objective of saving tax and hence, it includes: House rent allowance (HRA) Leave travel allowance (LTA) Telephone bills / fuel bills Medical expenses Food coupons Conveyance There are two kinds of FBP components i.e. Monthly and Claim/Annual. A monthly component is paid by default every month. Typical examples of monthly components are HRA, Conveyance, Vehicle Lease, etc. A Claim/Annual item needs to be claimed by the employees. Until they claim, the money will be with the company. Typical examples are Fuel, Telephone, Books/Periodicals Reimbursement, etc..

The user must have the provision to setup and configure to this below forms: Pay Group Component Compensation Template Components Eligibility Setup Reimbursement Types Dynamic Claim Creation Mail Content Builder Workflow Definition Master Routing Configurator FBP Configuration Compensation Details.

For the flexi configuration, its mandatory to declare the configuration value in FBP Open days. E.g.: If the FBP Open days defined as “10”. Then, for the 10 days the flexi component is available for the employees in compensation detail form. Employees to declare the amount of salary that they will take under each component, during the beginning of the year or at the time of joining..

The flexi component is a Reimbursement component. Use this form to create the new component or edit exist components. For the flexi component, the following values are mandatory to be selected “CTC, CTC Flexi and Reimbursement”.

Flexi component should be made as part of compensation template. Hence, flexi components will be added in the CTC structure for the respective employees..

In this form, Flexi components eligibility can be configured based on below parameters: Pay Group -> Select the pay group from the drop down options Component -> Select the component code from the drop down Applicable to -> Select the Employment Type (Confirmed / Probationer / Trainee) which to be applicable for the respective employees. Periodicity (Annual / Entire Tenure of employee) -> If Annual is selected for the financial year, the flexi component value will be calculated. If Tenure is selected from the serving period till the leaver days, the flexi value is calculated. Beginning month of Accounting -> Should be starting of the Financial Year CTC Computation Type -> It should be either Grade / Designation. If Grade select, it applies to all the grade categories. If Designation select, it applies to all the designation categories. Apply to All -> Using this option for all grades / designation the eligibility can be configured Minimum Amount, Maximum Amount Minimum %, Maximum % Tenure Eligibility Multiple Amount (Should be 1).

Use this form to Create the reimbursement type by selecting “create” option. Reimbursement types and other configuration can be done in this form Once reimbursement types created, the user can view and access the form in “Reimbursement” form..

Use this form to create the different claims, with specific formats and required options for each of the claim..

In this approval required, auto approval required, minimum approval required are to be mandatory configured.

Contents for the mail notification for the respective claims are defined in this form Separate notifications can be set up for various actions ‘Initiation, Approval, Rejection and Pullback’.

Create workflow approvals and attach the mail format in this form. Approvals and notifications can be done in this form..

FBP Configuration FBP Configuration e All Employee Effective Date * Ol-Oct.2021 From Date * 01-0ct-2021 To Date * 30-Nov-2021 Status Active SUBMIT x CLOSE.

This form can be access by either self or role player. Employees will be declare their flexi component values in this form..

Corporate Presentation-16. Thank You.