How can I add Food Coupon earning to my employees?
Food coupons are plain vouchers given by organisations to employees to have a meal during working hours (Breakfast, lunch and evening snacks). To create a Food Coupon salary component,
- Go to Settings > Salary Components.
- Click Add Component > Earning.
- Select Food Coupon as the earning type.
- Enter the Earning Name and Name in Payslip.
- Select the Pay Type.
- Fixed Pay: A fixed amount will be paid each month.
- Variable Pay: You can enter the amount for each month while running payroll.
- Choose whether you want to calculate this earning on a pro-rata basis. Pro-rata basis means the employee will be compensated based on the number of days they’ve worked.
- Select whether you want to include this earning as a Flexible Benefit Plan (FBP) component. FBP allows your employees to personalise their salary structure by choosing how much they want to receive under each component. This helps them reduce their income tax.
- Select the Calculation Type and Amount/Percentage.
- Click Save.
You can now assign Food Coupons to employees through the Employees module.