How to make a component in a salary structure a part of FBP?

FBP stands for "Flexible Benefit Plan." It's a type of employee benefit plan that allows employees to choose from a range of pre-tax benefits to create a customized package that suits their individual needs. These benefits may include options like health insurance, life insurance, retirement savings plans, and more. FBP is designed to provide employees greater control over their benefits and allow them to choose the benefits that best fit their unique circumstances.

To make a component in a salary structure a part of FBP, navigate to the Payroll (1) section of the Keka portal and click on Settings (2). 

On the Pay Groups (3) tab, find the relevant pay group (if you have more than one configured for your organization) and click the configure icon (4).

Here go to the Salary Components (1) section and click on Recurring Components (2).

Here find the component you want to make part of the FBP and click on the Edit icon (3). 

In the Edit Salary Component window, enable the 'This component is part of Flexible Benifit Plan (FBP) Bouquet of Benefits (BoB)' (1) option and then click Update (2)

Now this component will be marked with the 'FBP' label.

Now that we have created the 'FBP' component, we need to add to a Salary Structure which is also part of the FBP.

So go to Salary Structures (1), and select either Range Based or Custom Salary (2). 

Let's say you want to edit a Custom Salary Structure, so find the relevant one and click on the Update icon (3).

In the Update Salary Structure window, click on +Add Component.

This will open the Add Salary Component window from where you have to find and select the 'FBP' component created earlier. Click on Add Component to add this component to the salary structure. 

You should also enable the 'This structure is eligible for Flexible benefits plan (FBP)' option for this component to be active in this structure.

Now you will be able to select and edit the FBP component in the structure. Click on Update once you're done making all the changes.

Now this salary structure will also have the 'FBP' label

You can also check out the article on claiming an FBP component.

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