Reimbursements are covered for a year and enabled for the payroll period. Reimbursements allowed under FBP are exempted from taxable income subject to submitting the bills related to the reimbursement.
You can configure reimbursements based on your organization’s policy under Settings > Payroll settings > CTC Components > Reimbursements.
The following are the reimbursements available for the employee to opt under FBP components in their salary structure.
- Fuel reimbursement
- Driver reimbursement
- Telephone reimbursement
- Vehicle maintenance reimbursement
- Leave travel reimbursement
TO EDIT REIMBURSEMENT #
- Click on the edit button for the reimbursements you want to edit from the list.
- Type the desired name of the reimbursement in the “Display name”.
- Enter the maximum amount that can be reimbursed.
- If you wish to consider this component as an FBP component, enable the “Do you want to include this component as Flexible Benefit Plan? (FBP)” toggle button.
- By enabling the “Do you want to restrict the employee from overriding the FBP amount?” option, you can prevent your employees from overriding the FBP amount.
- Enable the “Status” toggle to make this component Active and use this component in salary templates/salary details. If you don’t wish to use this component in salary templates/salary details, then disabling the toggle button make this component Inactive.
- Finally, tap on the “Save” button