HRM - Benefits

Modified on Mon, 23 Dec 2019 at 03:05 PM

BENEFITS

In the Benefits screen, you can view the list of benefits that are created by the HR administrator for the employees of the organization. Once the benefits are prepared, the same benefits are applicable to all the employees in the organization. Any changes that are made in the Benefits screen will automatically affect all the employees in the organization. You can view Earned Benefits and Other Benefits in the Benefits screen.

BENEFITS HOME PAGE

Select the HRM > Benefits link from menu bar.

In the Benefits Home Page, you can view the Employee’s Earning and Contribution details. HR administrator provides the benefits list to all employees within the organization.

In the Benefits Home Page, you can find the following:

1. The Benefits Home Page displays all the Earnings and Contributions.

2. From the Benefits home page, earnings can be added by clicking on the “Add Earned Benefit” link. See the Add Earned Benefit topic for more details.

3. Contributions can be added by clicking on the “Add Other Benefit” link. See the Add Other Benefit topic for more details.

4. Also, from the Benefits Home Page, the earnings and contributions details can be modified by double clicking the record. See the Edit Earned Benefit and Edit Other Benefit topics for more details.

5. Earnings and contributions records can be deleted, by selecting the records through checking the appropriate check boxes and clicking on the “Delete” link. See the Delete Earning/Other details topic for more details.

DELETE EARNED BENEFIT/OTHER BENEFIT DETAILS

You can remove Earned Benefit/Other Benefit records permanently from your existing active record list.
Select the records you want to delete by selecting the appropriate check boxes adjacent to their names and click on the “Delete” link. Confirm the deletion, in the pop-up message. Result: The Benefits home page refreshes by deleting the selected benefits from the screen.

EDIT OTHER BENEFIT DETAILS

You can do the modifications in the Other Benefit section. Double click the other benefit type record from the Benefits screen. Result: The Benefits home page refreshes by displaying the Edit Other Benefit screen.

1. Modify the other benefit details.

2. Click on the “Update” link to save the changes.

3. Click on the “Cancel” link to close the window.

ADD OTHER BENEFIT

Other Benefits means savings. Organization provides savings to the employees. The HR administrator deducts a specific amount from the salary of the employee every month and provides benefits such as P.F, L.T.A etc. at the end of the financial year. To add other benefits, click on the “Add Other Benefit” link. Result: The Benefits home page refreshes by displaying the screen to capture other benefit details.

Enter the type of benefit in the Item Type text box.
Enter the Title and specify the Tax Type in the fields provided.
Enter the Total Dollar Amount and specify the Company Contribution and Employee Contribution and the Dollar Amount Deducted in the respective fields provided.
By default, values entered by you in the above fields will be populated in the Employee Management->HR Data->Benefits screen.
Enter the amount in the Amount Per Year text box.
Enter the amount in the % Amount text box.
Click on the “Add” link. Result: The Contribution Type will be added under Benefits list.
Click on the “Cancel” link to return to previous window.

Note:

The Total Dollar Amount will display the total amount of money that benefits cost.
The Company Contribution field displays the company contribution percentage towards that cost.
The Employee Contribution field displays the employee contribution percentage towards that cost.
The Company Contribution and Employee Contribution will be always be equal to 100%. If the user fills out one, the other will be pre-populated.
The Dollar Amount Deducted field displays the calculation of Total Dollar Amount minus Company Contribution. This will display the dollar amount deducted from employees pay.

EDIT EARNED BENEFIT DETAILS

You can do the modifications in the earning details. Double click the benefit type record from the Benefits screen. Result: The Benefits home page refreshes by displaying the Edit Earning screen.

1. Modify the benefit details.

2. Click on the “Update” link to save the changes.

3. Click on the “Cancel” link to close the window.

ADD EARNED BENEFIT

Earnings are the heads, which will bring extra earning to the employees, apart from the regular salary income. To add earning, click on the “Add Earned Benefit” link. Result: The Benefits home page refreshes by displaying the screen to capture earning details.

In the above screen, Benefit Type and Maximum Hours Allowed fields are mandatory.
Enter the type of earning in the Benefit Type text box.
Enter the earning time in the Maximum Hours Allowed text box.
In the Benefit Accrual Rules field, you are required to specify the Accrual Rate Hours allowed for every X (for example:40) hours worked to get the accrual rate per hour.
Specify the Accrual Rate hours for every X (for example:40) hours and click on CALCULATE link. The system displays the accrual rate per hour.
Click on the “Add” link. Result: The Earning Type will be added under Benefits list.
Click on the “Cancel” link to return to previous window.

Note:

You can add any number of earned benefits.
The system now displays the benefits for each employee in the Time Sheets-> Assignment drop-down list based on the earned benefits selected for the employee in the HRM -> Employee Management-> HR Data-> Benefits->Earned Benefits section. The selected benefits for each employee in the Benefits section will be reflected for each employee in the Time Sheets screen. In Accounting->Time Sheets – The Assignments drop-down list will display the employee level benefits.
By default, all Earned benefits and Other benefits that are shown in HRM->Benefits section will be shown to all Employees in HR Data->Benefits section.