I am new in the HR field and need guidance on how to explain flexible pay to employees effectively. I have to give a presentation to help them understand what flexible pay is and how it can benefit them. Please advise me on how to make my presentation more effective.
From India, Gurgaon
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From India, Gurgaon
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Flexible Benefit Plan (FBP) in Salary Break-up
Flexible Benefit Plan (FBP) in salary break-up primarily aims at tax savings. It requires the apportionment of the total salary among various components that are exempt from income tax, either fully or partially, to ensure a higher take-home pay. At the same time, it also requires periodic submissions of bills on actual expenses. Failure to submit these bills can result in the recovery of the entire sanctioned sum, or tax may be levied and deducted according to the organization's policy. Therefore, unless the flexible structure you propose is known in absolute terms, job-position wise, viewers cannot offer their suggestions to make it more effective.
From India, Salem
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6108Flexible Benefit Plan (FBP) in salary break-up primarily aims at tax savings. It requires the apportionment of the total salary among various components that are exempt from income tax, either fully or partially, to ensure a higher take-home pay. At the same time, it also requires periodic submissions of bills on actual expenses. Failure to submit these bills can result in the recovery of the entire sanctioned sum, or tax may be levied and deducted according to the organization's policy. Therefore, unless the flexible structure you propose is known in absolute terms, job-position wise, viewers cannot offer their suggestions to make it more effective.
From India, Salem
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