Flexi Benefit Pay

In India, Flexible Benefits Plan (FBP) in salary structure is a facility for employees in which they can modify components of CTC (Cost to Company) such as medical expenses and conveyance. CTC contains all the elements of salary; HRA (House Rent Allowance), Medical Expenses, Basic Salary, DA (Dearness Allowance), etc. The major objective of the Flexi Benefit Plan is to provide freedom to choose. A Flexi or Flexible Benefits plan is introduced to save tax and it includes the following components;

  • HRA
  • LTA
  • Medical Expenses
  • FoodConveyance
  • Telephone Bills

Benefits of Flexi Benefit Pay/Plan

  • Tax Saving practice
  • Employee Satisfaction which means more productivity
  • Transparency in organization
  • Effective Recruitment