Viewing Flexible Benefit Plan (FBP) Details
A Flexible Benefit Plan (FBP) allows you to plan your benefits package as per your specific needs. The FBP will thus be tailored to suit your requirements. The organization allocates a significant amount of your total compensation to this plan and allows you to select from a list of choices. The usual components of FBP include LTA, medical reimbursement, leave coupons and so on.
Note: If you have the necessary permissions, the Plan Now option is visible to you on the FBP page and
you can plan the benefits amount for the current year.
To view the FBP:
On the FBP page, do any of the following:
To view FBP for the previous year, click Previous Year.
To view FBP for the current year, click Current Year.
The FBP is displayed as per your selection.
The details displayed in various sections are:
FBP Details
|
Field |
Description |
|
Employee |
|
|
Employee id |
Displays the unique id assigned to you |
|
Name |
Displays your name |
|
Date of joining |
Displays your date of joining the organization |
|
Band |
Displays the band assigned to you in the organization |
|
Proportionate for the financial year |
|
|
CTC |
Displays the total CTC amount, which is the sum of Proportionate Fixed total and Proportionate Flexible total |
|
FBP |
Displays the total amount allocated to Flexible Benefit Plan during the financial year |
|
Revision for the financial year |
|
|
Effective date |
Displays the effective date of your salary revision |
|
Total cost to company |
Displays the revised total cost to company |
|
FBP |
Displays the revised amount under FBP |
|
Fixed components |
|
|
Basic |
Displays the amount allocated as basic component |
|
HRA |
Displays the amount allocated as House Rent Allowance (HRA) |
|
Provident fund |
Displays the amount allocated as provident fund |
|
Variable pay |
Displays the amount allocated as variable pay |
|
Fixed |
Displays the amount allocated as fixed pay by your organization |
|
Flexible components These are the components of your compensation that you can plan as per your specific needs. In case you have the necessary permission, you can plan the benefits yourself. If permission is not enabled for you, you can contact your HR representative to set up the plan as per your request. |
|
|
Component name |
Displays the name of the component |
|
Monthly |
Displays the monthly amount allocated to the component. Fields against planned components will be enabled under this column if the planning type is Monthly. |
|
Yearly |
Displays the yearly amount allocated to the component. Fields against planned components will be enabled under this column if the planning type is Yearly. |
|
Proportionate |
Displays the proportionate amount for the component for the year |
|
YTD |
Displays the year to date amount of the component |
|
LOP |
Displays the proportionate amount to be considered under this component, in case of loss of pay |
|
Balance |
Displays the balance amount which is yet to be paid to you |
|
Outside CTC Components These are the components of your compensation that are part of the CTC, but do not appear in your payslip. Examples can be Company Car, Variable Pay and so on, depending on the organizational policies. |
|
|
Component name |
Displays the name of the component |
|
Monthly |
Displays the monthly amount allocated to the component |
|
Yearly |
Displays the yearly amount allocated to the component |
|
Proportionate |
Displays the proportionate amount for the component |
|
YTD |
Displays the year to date amount of the component |
|
LOP |
Displays the proportionate amount to be considered under this component, in case of loss of pay |
|
Balance |
Displays the balance amount which is yet to be paid to you |
To enter FBP plan details for the current year:
On the FBP page, select Plan Now and enter FBP component details.
Click Save.
The FBP component details are saved.
Click to view formula and information on which Proportionate is calculated in FBP page:
Click to know more:
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