FBP or Flexible Benefits Plan is a compensation structure offered by some employers to their employees. It allows them to customize and choose from a range of benefits according to their individual needs and preferences.
To edit a considered FBP plan, 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 Considered Plans tab. The list of employees whose plan is considered for payroll appears.
- Click the Edit icon available in the Edit column for the required employee. The FBP Edit pop-up appears and displays FBP Item, Limit, Full Allocation, Comments, Declared by Employees, and Annual Values details.
- Double-click the cell under the Full Allocation column to enter the new amount of the component.
Note: This step is necessary if you want to modify the FBP plan declared by the employee. You can modify the full allocation value on behalf of the employee.
- Click Save to edit a considered FBP plan.
❓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 new FBP policy, click here.
▶Video- To watch the video on Create and release FBP declaration for employees, click here.
📢Product Update: To read about the product update, click here.