It's always a good thing to give employees some flexibility. But, if you make payroll flexible for them, you'll earn a lot more goodwill for sure! We understand how employees feel about saving taxes and the best way to help them through a Flexible Benefits Plan in payroll. Empower your employees to pick and choose from your preferred benefit allowances that can be easily configured within your salary structures. All you have to do is approve their bills online, we'll take care of the rest.
Create employee-friendly Flexible Benefit Plan (FBPs), easily and quickly. Simply select a group of allowances/components that employees can pick from, these will automatically take effect on their salary structure.
Each employee gets a dedicated Flexible Beneift Plans page, call it an FBP dashboard if you may. On this page, employees can submit their bills and memos in support of their FBP allowances, every month/quarterly/half-yearly or yearly.
This is a popular feature amongst employees, and unsurprisingly so. If employees' bills fall short a particular month's entitlement, then we will auto-carry forward the balance amount (unused benefit) to the next month. Now, isn't that sweet!
For every component you include in your Flexible Benefit Plans, you can configure an upper or lower limit based on employee's grade or office location. This enables you to maintain tax compliance when implementing FBP in your organization.
We will automatically calculate tax exemptions, once you approve employee's bill submissions against their FBPs. If bills fall short of their maximum benefit limits, unclaimed amount will automatically be included in taxable income.
No fun in giving FBPs if there's no time flexibility in availing these benefits. That's why we give you the power to set your own submission cut-off dates, so that you can plan verification drives or re-submission windows accordingly.
