Flexible benefit plans offer employees the flexibility to choose the benefits they prefer or require from a range of programs provided by their employer, which may include health insurance, pension plans, telephone expenses, and more.

To configure Flexible Benefits in BizCentric HR, follow these steps:

1. Navigate to the Salary Component for which you wish to set up flexible benefits and enable the “Is Flexible Benefit” checkbox. Enter the Yearly Max. Benefit Amount. Opt to select the “Pay Against Benefit Claim” checkbox to enable flexible benefits via a Benefit Claim.
2. Establish a Salary Structure for the Employee containing this Salary Component. Set the Amount to 0. Also, specify the Max Benefits Amount for this Salary Structure.
3. Assign the Salary Structure to the employee using Salary Structure Assignment.
4. Create an Employee Benefit Claim for this employee. Specify the Claim Date, Component, and enter the Claimed Amount.
5. Execute the Payroll Entry. The amount will be allocated against the component in the Salary Slip.