Application for Employee Benefits
Application for Employee Benefits
Employees have the right to flexible benefits, which they can either get as part of their salary or as a lump payment when they claim the benefit. To choose from a range of flexible benefits that an employee will receive on a pro-rata basis, the employee needs to fill out a new Employee Benefit Application.
Application for Employee Benefits
Here, the employee may see the Max Benefits based on the Salary Structure Assignment. They can then choose from the Earning Components that are part of their allocated Salary Structure. They can also write down the amount they want to get as part of their salary slip.
When making the Salary Slip, the Max Benefit Amount will be divided among the flexible earning components based on the Employee Benefit Application. If an employee doesn't turn in their Employee Benefit Application before payroll is processed, the Max Benefit Amount that the person is qualified for will be split evenly across all of the flexible components of their wage structure.
The Employee Benefit Application should include the complete amount that the employee is entitled to receive, based on the Max Benefit amount, on a pro-rata basis. But if the employee's salary structure includes salary components that are paid when they file an Employee Benefit Claim (Salary Component with Pay Against Benefit Claim), they can submit an Employee Benefit Application without including the amount set aside for those components.
Also, keep in mind that parts of the application that are dependent on Employee Benefit Claims can also be included, but they will only be paid out in a lump sum as part of the Employee's wage when they submit a claim for it.