![]() ![]() Some employers compensate for the travel expenses. ![]() Hence, it’s only understandable for them to expect the employer covers the expenses in some quantity. ![]() ConveyanceĮmployees commuting to work every day means significant travel time and daily costs. Such bills are is tax-free for the employees and can be reimbursed. The company may issue food bills such as meal or grocery coupons (Sodexo coupons or meal vouchers) to its employees ranging from Rs 2200 to Rs 3000. The income tax department considers meals and non-alcoholic beverages offered by the company during office time as a benefit for the employee. Components of FBP Food and Beverage costs The modifications are, however, protected by checks and balances to prevent its misuse. ![]() Although the organisation/HR generally allocates salary components, companies should also consult employees when allocating FBP in salaries. What is FBP in salary?Ī Flexible Benefit Plan is termed ‘flexible’ because the company can fix or regulate packages as per Govt compliances, company norms, and the employee’s position. With a growing focus on employee experience, companies these days are mindful of the efforts and expenses incurred by employees and use flexible benefits for personalising the salary structure and maintaining an employee-friendly culture.īefore we dig deeper into the hows and whys of the FBP component in salary, let’s cover the basics. ![]()
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