Flexible Benefit Plans
What are Flexible Benefit Plans?
Flexible benefit plans help you to plan your expenses and personalise your salary structure to suit your planned expenses for the financial year. FBP is a part of the CTC.
Ways to declare your Flexible benefit plans in Zoho Payroll
Once your payroll admin has enabled the Flexible Benefit Plan declaration window, you can access the FBP declaration section in three ways:
- An email will be sent to your registered email address, through which you can open the FBP declaration window.
- A notification will be published inside the employee portal, under the Home tab you can click on View and Submit FBP declaration.
- A notification will also be published inside the employee portal under the Salary details tab in the Salary structure section.
How to declare Flexible Benefit Plans in Zoho Payroll
Once you have arrived at the Flexible Benefit Plan declaration window, enter your planned expenses under each eligible category and click Save.
Based on the proofs you submit under each category defined, tax computations will be taken care automatically. If you would like to re-allocate your FBP expense category later, you can do it when your payroll admin reopens the FBP declaration window.