Good day to everyone. Please can you help guide me on the following.
We are planning to introduce new reimbursable components in the salary structure & are thinking of using a Third Party Supplier to help in the backend admin. Eg. Paytm Wallet. So plan is to have 1 Wallet per Employee who in turn will have 3 sub-wallets ie Food, Fuel & Allowance. If this is implemented, then the 3 wallets need to be topped up & the employee will receive less credit in his bank. Please correct if my understanding is wrong.
Question - (a) in Employee Payslip should the money transferred to each of the Wallets be also shown on the Deduction side? (b) If an Employee uses the Fuel Wallet in a Fuel Station to fill up any vehicle ie. his 4 wheeler or 2 wheeler or his friends vehicle, are there any controls whereby an employer can identify such spend and tax for these items. I do understand from earlier POST on Reimbursable Components that the onus is on the Employee to ensure fair declaration, but just wanted to get some thoughts from anyone who is currently using Wallets.
Thank you all in advance for your inputs and suggestions.