Flexible Benefits Plan (FBP) in salary structure

Ask the Community Statutory Compliance
1

Hi All,

I would like to know the list of FBP options available in India which can be implemented by employer, its requirement or documentation to be maintained and its impact on Income tax

Request you all to given your opinion/suggestions on the FBP components that can be introduced in the new financial year.

Thanking you all in advance

Regards
Nagaraj J

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2

Following for more info.

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3

Hi members,

What are the Flexible Benefits Plan (FBP) components you use or provide employees?
What are the new FBP options as well?

Our members are looking for more information on this question. Experts please pitch in.

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4

As per my knowledge, here is the list of FBP that can be used in Salary structure.

  1. Child Education (up to 2 children 200/-, per children 100/-)
  2. Hostel (up to 2 children 600/-, per children 300/-)
  3. Gift allowance (Yearly 5000/-)
  4. Mobile and internet
  5. Fuel
  6. Club
  7. Professional Pursuit
  8. Uniform and research (depends up the company type)
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5

Dear Members We are giving Flexible Benefits as given below:

  1. Telephone/Mobile/Internet
  2. Food allowance
  3. Gifts & appreciation
  4. Petrol
  5. Snacks
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6

In addition to already mentioned salary heads.

  • CLA(Company Leased Accommodation)
  • Car lease
  • Fuel and Driver salary reimbursements
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7

@amiths, there any limits for above FBP items?

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9

Yes, all of these have their own rules and limitations.

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10

@amiths ,can you please help me on the limitations