Flexi Benefit Plan or FBP in short gives your employees the flexibility in defining the pay component amount as per their need on an approval basis.
Hawk HR allows the admin with access to Settings and Payroll Module to enable FBP for specific or multiple pay components defined in the Salary Template. Once enabled, employees can raise a request from their Main Panel to update the amount defined in the component as per their need, and the moment the admin approves of this request, it will be updated in the employee salary.
Enabling Flexi Benefit Plan
In order to have this feature available in the Salary Template, admin with access to the Setting Module will have to enable it first by referring to the following steps:
- Navigate to: Control Panel->Settings->Payroll
- Scroll down to the end of the page
- Check the box for Enable Flexi Benefit Plan
- Click On Update Details
Admin Access: Assigning an FBP attribute to a Pay Component
Admin with access to the Payroll module can create a new FBP component or define an existing component as an FBP component. Please refer to the following steps for the same:
- Navigate to: Control Panel->Payroll->Salary Template
- Click on Edit(Under Actions) for the salary template that you wish to edit
- Check the box for Enable Flexi Benefit Plan and click on Next
- You will be able to view Allow in FBP against every Earning and Deduction component
- Enable the FBP against the component as per your requirements and select one of the following:
- Yes/No: It will give employees an option whether they wish to opt for this component or not
- Range: Here you define the minimum and maximum range within which employees can define the amount for the concerned FBP component.
- Select the component against which the remaining amount will be adjusted.
- Click on Next until you reach the 6th Step
- Select the 2nd option and go to the final step.
- Click on Finish to finalize the changes done in the Salary Template
Once completed, all the employees under this Salary Template will have an option to raise a request for an update of the FBP component from their Main Panel via the Compensation Module
Admin with access to Payroll module can approve FBP request by referring to the following path: Control Panel->Payroll->Employee Salary->FBP Requests
Employee Access: Raising an FBP request
Employees can raise an FBP request by referring to the following path:
- Navigate to: Main Panel->Compensation->My Compensation
- Click on Flexi Benefit (On the top right corner)
- You might see one or both of the following options as a part of FBP enabled by your employer:
- Include in Salary: check the box for this if you wish that component to be part of your salary structure
- Range-based: Define the amount as per the range given below the dialog box
- Click on Save if you wish to save the request to make changes afterward i,e. before final submission.
- Click on Submit to raise a request
Once your request is approved by the admin, your component amount will be updated as per the request in your salary structure.