Viewing FBP
Flexible benefit plan (FBP) is a flexible component of salary which can be planned on a monthly or yearly basis. This function can be carried out only if the organization has a policy for such planning. Based on the permissions given to you, you can plan FBP on behalf of employees.
To calculate FBP:
On the HR menu, under Compensation details, click FBP.
The FBP page appears.
In the Employee search text box, enter the employee name/employee ID or press SPACEBAR (on the keyboard) once to retrieve the list of employee and then select the employee from the list.
If the employee is a resigned employee, select the Resigned employee only check box.
Select the Current year option button.
Click Go.
The employee’s revision for the financial year, fixed components, flexible components and components not included in the CTC appear.
In the Select plan drop-down box, select the plan for which you want to plan the flexible components for the employee.
The fixed components, flexible components and components not included in the CTC are modified according to the plan and displayed in grids.
In the Flexible components grid, on the Monthly and Yearly column corresponding to the flexible component, enter the amount to modify the component plan.
Click Save.
The updated FBP plan is saved to the employee’s salary structure.
Note 1: Once
you select the plan, the CTC and
FBP fields in the Proportionate
for the financial year grid is refreshed and modified according
to the new plan.
Note 2: Based
on the component planning type, monthly/yearly fields are enabled for
each component. For example: If LTA is a yearly planning component, then
the fields under yearly column are enabled against LTA in order to plan.
Note 3: To
exit without making changes to the FBP, click Cancel.
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