Salary Details
In the Salary Details module, employees of a company can view their salary structure, payslips, and a comprehensive summary of their annual earnings, contributions, deductions, and taxes. They can also declare their Flexible Benefit Plan (FBP), once that option is enabled.
To view your salary details:
- Go to Payroll on the left sidebar.
- Select Salary Details.
Note: This feature is only available in the India edition of Zoho Spend.
Salary Structure
In the Salary Structure tab, you can view the detailed breakdown of the salary being offered to you. It clearly shows the breakdown of the different salary components that constitute the Cost to Company (CTC). You will find the details of your Earnings (Basic Pay, House Rent Allowance (HRA), and other earnings), Benefits (taxable), FBP Components, and Other Benefits (non-taxable).
Payslips
A payslip is a document given to employees at the end of each month, stating exactly the amount of money they’ve earned for the month. In the Payslips tab, you can view your payslip for the current month, which contains the details such as the Earnings, Reimbursements, Deductions, Net Pay, and Take Home salary.
You can view the payslips for the previous months by clicking the Month filter at the top of the page and selecting the required month.
You can also view your tax worksheets, which detail exactly how much income tax was deducted from the pay each month, by clicking View Tax Worksheet.
Annual Earnings
In the Annual Earnings tab, you can view the year-to date report of earnings, deductions, and statutory components for each financial year. You can view the earnings for the previous years by clicking the Financial Year filter.
Flexible Benefit Plan
Flexible Benefit Plan (FBP) is a way through which you can structure your salary. You can decide which components you want to take and how much you want to allocate under each component applicable to you, with some predefined checks and balances.
Scenario: Manish is a Salesperson working at Zylker. According to Zylker’s salary structure, House Rent Allowance (HRA), Helper Allowance, and Travel Allowance are part of the salary structure for Salespersons. Since Manish already has a house, he uses his FBP allocation for Helper Allowance and Travel Allowance instead. This way, he can reduce the amount he pays in income tax.
Note: You can only declare your FBP components after your payroll admin releases FBP for the current period.
Here’s how you can declare your FBP components:
- Go to Salary Details under Payroll on the left sidebar.
- In the Salary Structure tab, click View and Submit FBP Declaration in the banner at the top of the page.
- Enter the monthly amount for each FBP component. Check the Total Allocation Amount to know the exact amount you are allowed to assign to the FBP components.
- Click Save.