How can admin release FBP for employees?

Created by Product Content Team, Modified on Fri, 16 Feb at 1:10 PM by Product Content Team

A Flexible Benefits Plan (FBP) allows employees to personalize their salary components to optimize tax benefits. This arrangement enables employees to allocate a predetermined amount towards specific benefits, tailored to their individual needs, within the organization's guidelines. By offering this flexibility, employees can take advantage of tax-saving opportunities while enjoying a customized benefits package.

To release the FBP for the employees, the admin must perform the following actions:

From the greytHR Admin portal, navigate to Payroll > Admin > FBP Planner. The FBP Planner page opens.
Click the Release tab. A list of employees for whom you want to release FBP appears.
Select the employee by clicking the checkbox.
Click Release for Declaration to release the FBP for the selected employees.
Note: The admin can also delete the plan by clicking the Delete Plan button.

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Related Links:

Video -

To watch video on Create and release FBP declaration for employees, click here.
To watch video on Declare FBP on behalf of an employee, click here.

FAQs: To read more FAQs about FBP, click here.

Documentation -

To learn how to create and release FBP, click here.
To learn how to declare FBP on behalf of an employee, click here.
To learn how to create new FBP policy, click here.

Product Update: To read about the product update, click here.