As an Admin, you can also create Flexible Benefit Plan for the employees based on the policies that you have already set for them. Based on the policies that you have defined for them, (just like an employee) you can choose from the various FBP components on behalf of them.
The following steps guide you to declare FBP components on behalf of an employee:
- Navigate to Payroll > Published Info > FBP Decalaration. The FBP Decalaration page appears.
- Search for the employee on behalf of whom you want to declare the FBP components.
Figure 1: Creating FBP Components on behalf of an Employee
Based on the policies associated with a component, you can declare that component on the following grounds:
- Component is mutually exclusive in nature—A component can be mutually exclusive with another component. For example, let us consider Driver Allowance and Conveyance Allowance as mutually exclusive components. In such a case, you can declare any one of the mutually exclusive components.
- Component is dependent in nature—A component can be dependent on other components. For example, let us assume Driver Allowance as dependent on Car Maintenance Allowance. Then while declaring Driver Allowance, you must have already declared Car Maintenance Allowance.
- Component is quantity based—A component can be quantity based. For example, let us assume that Admin has defined Food Coupons as a quantity based component with a base value of Rs. 500. So, under the Preference column you get to choose number of food coupon booklets you require. If you choose five in the drop down, then the declared amount is considered as Rs. 500 * 4 = Rs. 2,000.
- Component is marked as Opt In—If a component is defined as Opt In, a drop-down list appears under the Preference column. You can only choose Yes or No from the drop-down list, indicating whether you want to declare the amount for this component or not. On choosing Yes, the entitled amount for that component is automatically considered as the declared amount. For example, let us assume, Food Coupons (with an entitlement of Rs. 1,500), as a component that Admin has marked as Opt In. Then for Food Coupons you can find a drop-down list under the Preference column. You can either choose Yes or No from the drop-down list. On choosing Yes, the complete entitlement, that is Rs. 1,500 is considered as the declared amount. And on choosing No, you do not get to declare for this component.
Click Submit after you have declared all the components. A message appears prompting you that the plan has been successfully submitted. This employee can then see the details of the plan that you have declared (on behalf), in the greytHR Employee Portal under My Info > FBP Declaration. The employee can further make changes to this plan and submit the same.