Flexible Benefit Plan
Flexible Benefit Plan(FBP) is a way in which your employees can structure their own salary. Flexible benefit plans help you to plan your expenses and personalise your salary structure to suit your planned expenses for the financial year. FBP is a part of the CTC.
Enabling FBP in the salary components
You can configure FBP components under Settings → Payroll → Salary Components → Earnings & Reimbursement
Select the component, click the three-dot Edit option, and enable the Flexi Benefit Plan Component Flag.
Once the flag is enabled, enter the FBP Maximum Declaration Amount. This amount will be displayed in the ESS portal, allowing employees to view and understand the maximum limit for each FBP component.
If you do not want employees to override the FBP component amount, enable the "Restrict Employee from Overriding the FBP Amount" flag.
Click the Save button.
Related Articles
Reimbursement Components
Reimbursement components are salary elements provided to employees to reimburse specific expenses incurred during the course of their employment. These are typically non-taxable if supported by valid bills or receipts, as per statutory and ...Earnings
The Earnings section in payroll defines all salary components that contribute to an employee’s gross pay. These may include Basic Pay, House Rent Allowance (HRA), Special Allowances, Overtime, Incentives, and other benefits as per company policy. ...Salary Details
Navigate to My Team Finance → Salary Info → Salary Details Click the +Add Salary button. A pop-up window will appear where you can select the Employee Name (only employees without a configured salary will be displayed, including both Active and ...Bonus Components
Bonus is a salary component that forms part of the employee’s Cost to Company (CTC). It is included in the overall CTC structure but may be paid annually, half-yearly, or at specific intervals as defined by organizational policy or statutory norms. ...India Payroll — WorkWisely Knowledge Base
India Payroll — WorkWisely Knowledge Base India's payroll compliance landscape is one of the most layered in the world, governed by central legislation, state-level variations, and multiple regulatory bodies. WorkWisely's India payroll module is ...