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Increasing flexible pay portions helps control fixed costs while providing a competitive pay package. Under this benefit, employees get an. You can modify flexi components for saving tax.
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Getting a fix on these. Many employers in india provide a flexible compensation structure (flexi pay), which allows employees to design part of their salary by choosing from different allowances. Free indian salary calculator with tax benefits, hra, and epf calculations.
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In case your salary is below the tax brackets, then feel free to make amount in all flexi buckets as 0.
Flexi pay is a part of my fixed ctc. It depends on your salary. Going by its definition, ‘flexi pay’ is that part of the salary, which an employee can receive against particular expenses, mainly to avail tax exemptions. It means you will get only remaining 70k in your monthly salary.
A flexible benefit plan (fbp) is a plan included in an employee’s salary which has various salary components like food coupons, books allowance, conveyance allowance etc. Flexible pay directly links pay to performance. Use cleartax’s salary calculator to know your take home salary. And the 30k * 12 months equal to 3.6 lacs you get in year end and it saves tax for you by deduction
It is a compensation or payroll arrangement that allows employees to have greater flexibility in how they receive their income.
In a flexipay system, employees can customise.
