Create Benefit Plan

Benefit plan is the set of offerings provided by an organization to their employees in addition to their regular salary or wages. These benefits can include various types of Compensation, Expenses, Leave, Loan, and other Perks.

Follow the steps given below to create benefit plan.

• Navigate to -> Menu Category.
• Select Benefit menu category.
• Navigate to -> Benefit.
• Click on -> Benefit Plans.
• Click on -> Create button.
• Benefit plan detail page will get open.
• Add Name into Name field.
• Select Type of benefit into Benefit Type field.
• Set Category as Earning or Deduction.
  • Earning category will add on to employees earning in case of Compensation, Expenses or Leave.
  • Deduction Category will deduct some amount from employees earning as a Premium of insurance, Loan or scheme.
• Set Contribution Frequency.
• Set Contribution by Where we can select Personnel, Company or Personnel & Company.
  • If Personnel is selected. Then, only Personnel will contribute for the benefit. And Personnel Contribution field appears under Pricing Section.
  • If Company is selected. Then, only Company will contribute for the benefit. And Company Contribution field appears under Pricing Section.
  • If Personnel & Company is selected. Then, both Personnel and Company will contribute for the benefit. And Personnel Contribution and Company Contribution field appears under Pricing Section.
• Add value into Personnel Contribution or Company Contribution field.
• Click on -> Save button.
• Benefit Plan Record gets created.

Benefit Plan Detail Page

 

Options under Benefit Type Field on Benefit Plan detail page

 

Options Under Category Field on Benefit Plan detail page

 

• Click on -> Activate button to Activate Benefit Plan.