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How-to

Payroll:FBP

Last updated November 30, 2022 · Tushar Agarwal

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A Flexi Benefit Plan (FBP) gives your employees the flexibility to define pay component amounts according to their needs, subject to approval.

HRStop lets admins with access to the Settings and Payroll modules enable FBP for one or more pay components defined in the salary template. Once it is enabled, employees can raise a request from their Main Panel to update the component amount according to their needs. As soon as the admin approves the request, the employee’s salary is updated.

Enabling the flexi benefit plan

To make this feature available in the Salary Template, an admin with access to the Setting Module must first enable it:

  • Navigate to Control Panel → Settings → Payroll.
  • Scroll down to the end of the page.
  • Select the Enable Flexi Benefit Plan check box.
  • Click Update Details.

Admin access: Assigning an FBP attribute to a pay component

Admins with access to the Payroll module can create a new FBP component or define an existing component as an FBP component. Follow these steps:

  • Navigate to Control Panel → Payroll → Salary Template.
  • Click Edit (under Actions) for the salary template you want to edit.
  • Select the Enable Flexi Benefit Plan check box and click Next.
  • You can now see Allow in FBP against every Earning and Deduction component.
  • Enable FBP against the components you require and select one of the following:
    • Yes/No: Gives employees the option to choose whether to opt for this component
    • Range: Define the minimum and maximum range within which employees can define the amount for the concerned FBP component.
  • Select the component against which the remaining amount will be adjusted.
  • Click Next until you reach the 6th Step.
  • Select the 2nd option and go to the final step.
  • Click Finish to finalize the changes to the salary template.

Once this is complete, all employees under this salary template can raise a request to update the FBP component from their Main Panel via the Compensation Module.

Admins with access to the Payroll module can approve FBP requests at Control Panel → Payroll → Employee Salary → FBP Requests.

Employee access: Raising an FBP request

Employees can raise an FBP request as follows:

  • Navigate to Main Panel → Compensation → My Compensation.
  • Click Flexi Benefit (in the top-right corner).
  • You might see one or both of the following options, depending on the FBP settings your employer has enabled:
    • Include in Salary: Select this check box if you want the component to be part of your salary structure
    • Range-based: Define the amount within the range given below the dialog box
  • Click Save if you want to save the request and make changes later, i.e., before final submission.
  • Click Submit to raise the request.

Once the admin approves your request, the component amount is updated in your salary structure as requested.