Yes, the admin can re-release the FBP to the employees. The admin must delete the existing plan and re-release it to the selected employees.
A Flexible Benefits Plan (FBP) means customizing the salary breakup of the employees to achieve maximum tax benefit. Under a flexible arrangement, an organization allocates a specified amount to each employee to avail of benefits.
To re-release the FBP to 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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❓FAQs: To read more FAQs about FBP, click here.
- 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 a new FBP policy, click here.
- 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.
📢Product Update: To read about the product update, click here.