Dear friends, I would like to have more details on Sodexho.
· How does this work for an employee?
· What benefits are there for the company?
· If we give these to employee, how does it effect CTC structure and hence what is the net impact on cost?
· How can we position this within the company from the point of people focus?
· Do these vouchers come with a validity i.e within this financial year only? If yes, what happens to the unused ones?
· How does Sodexho compare against other such similar products?
· Would these vouchers be distributed during salary, would staff have to apply for them or is there any other option?
regards
Mohamed
From Saudi Arabia
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4· How does this work for an employee?
· What benefits are there for the company?
· If we give these to employee, how does it effect CTC structure and hence what is the net impact on cost?
· How can we position this within the company from the point of people focus?
· Do these vouchers come with a validity i.e within this financial year only? If yes, what happens to the unused ones?
· How does Sodexho compare against other such similar products?
· Would these vouchers be distributed during salary, would staff have to apply for them or is there any other option?
regards
Mohamed
From Saudi Arabia
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Sodexho, Accor coupons are the meal and Gift coupons which is being provided for the employees to get rid off with the Tax (Amounted to Rs. 1250/-)
From India, Gurgaon
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From India, Gurgaon
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Hi, I hope this document helps and will solve all your queries.. Cheers, Mansi
From United States, Falls Church
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From United States, Falls Church
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Hi,
Sodexo Passes are of two types: Meal Vouchers and Gift Vouchers.
The value for the meal vouchers is 1200/- and for the gift voucher, it is 400/-.
If you want to implement the Sodexo scheme for the employees, discuss this with your Senior.
Once your Senior gives approval, send an email to all the employees regarding the passes. See the response. Explain to them the benefits - it is a tax-saving component, it works at most restaurants... you can refer to the attachment provided by Mansi, which is the directory where these passes are accepted.
If the response is positive, you can get in touch with Sodexo, place your order on a monthly basis by providing a list of employees who have opted for it, and make the payment by cheque to Sodexo.
Regarding the FBT, check whether the employer will pay for it or if it needs to be added to the Cost to Company (CTC). If you are starting this scheme and the FBT is to be added to the CTC, then you need to restructure the salary package. This aspect also needs to be verified.
You can distribute the vouchers separately in the first week of the month.
These vouchers are based on the calendar year. If not used by the employee, a request needs to be made to Sodexo to renew them, but they charge for this service.
The employee has to continue using the vouchers once they opt for it. If they want to discontinue, it cannot be done midway through the year as it may lead to administrative issues. Therefore, you can attach an undertaking form along with the employee's appraisal form so that during the appraisal, the employee can indicate in writing whether to continue or not.
I have covered all the points. I hope this information helps you.
Thanks,
Uttama
From India, Mumbai
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Sodexo Passes are of two types: Meal Vouchers and Gift Vouchers.
The value for the meal vouchers is 1200/- and for the gift voucher, it is 400/-.
If you want to implement the Sodexo scheme for the employees, discuss this with your Senior.
Once your Senior gives approval, send an email to all the employees regarding the passes. See the response. Explain to them the benefits - it is a tax-saving component, it works at most restaurants... you can refer to the attachment provided by Mansi, which is the directory where these passes are accepted.
If the response is positive, you can get in touch with Sodexo, place your order on a monthly basis by providing a list of employees who have opted for it, and make the payment by cheque to Sodexo.
Regarding the FBT, check whether the employer will pay for it or if it needs to be added to the Cost to Company (CTC). If you are starting this scheme and the FBT is to be added to the CTC, then you need to restructure the salary package. This aspect also needs to be verified.
You can distribute the vouchers separately in the first week of the month.
These vouchers are based on the calendar year. If not used by the employee, a request needs to be made to Sodexo to renew them, but they charge for this service.
The employee has to continue using the vouchers once they opt for it. If they want to discontinue, it cannot be done midway through the year as it may lead to administrative issues. Therefore, you can attach an undertaking form along with the employee's appraisal form so that during the appraisal, the employee can indicate in writing whether to continue or not.
I have covered all the points. I hope this information helps you.
Thanks,
Uttama
From India, Mumbai
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any one provide me name of books/site where I conform the tax exemption limits as mention by uttama as Rs 1200 and 400 PM.
From India, Delhi
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From India, Delhi
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I would like to know how it has to be encashed. For example, if I own a hotel and I am receiving Sodexo from my customer, to whom should I submit it to encash it? Additionally, what is the time frame for encashment? In how many days will I get the cash? Furthermore, are there any tax implications on these kinds of transactions?
Regards,
Swami
From India, Bangalore
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Regards,
Swami
From India, Bangalore
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