Veranda -Flexible Benefit Policy
FY’23-24
FLEXIBLE BENEFITS POLICY
PURPOSE
The Flexible Benefits Policy- Reimbursement (Hereinafter referred as “Policy”) is to provide certain benefit to eligible
employees, such benefits may be claimed by eligible employees on fully reimbursable basis.
The objective of the policy is to provide a common guidance for eligible employees for conducting a smooth
process.
Flexi benefit salary components to provide options to employees to provide flexibility for claiming expenses
incurred for performing their official duties.
SCOPE
This policy is applicable for employees whose CTC is greater than 12 Lacs per annum.
FLEXIBLE BENEFITS COMPONENTS
Leave and Travel Allowance
Employee can claim the travel expenses incurred for travelling on leaves for two times (one round trip) ina block of
four years.
The Current block year for the LTA shall be from 1st April’2023 to 31st March’ 2027.
LTA can be claimed only if employee have applied a minimum of 5 consecutive days of leave from theCompany
and have travelled.
The said benefit is available to employees for travel within the India and any benefit in relation to any
international travel is not covered under the policy.
Provided:
• It is the shortest route end to end point by any mode (Air, Train or Bus).
• The LTA bills applicable for the current block year must be submitted on D Tax App (Claim) within the
samefinancial year. For reimbursement, an employee must provide the following proof of travel:
o Train ticket / bus ticket
o Copy of air ticket & boarding pass
• Self-declaration form duly filled up.
The employee can claim the benefit of LTA with conditions:
• The entire cost of the holiday is not covered under the policy. Only the travel costs are covered under
the policy. The employee should submit travel ticket to claim the LTA for self and family. In case of air
travel,employee also required to submit boarding pass.
Here Family means, eligible employee, parents, siblings dependent on employee, spouse (whether
workingor not) and children.
• For children born after October 1, 1998, the exemption is restricted to only two surviving children
(unless, of course, one birth has resulted in multiple children like twins and triplets).
• In case where only family is travelling without employee, no LTA can be claimed.
• During any block, a person is entitled to two LTA claims. Further LTA could be claimed once in a year
only. In other word employee cannot claim benefit of 2 journeys in one year.
• If employee travel by car/taxi, LTA claim is permitted however the said claim does not exceed the
equivalent of 1st A/c train fare for the route.
• In case employee did not use public transport and resorted to private transport like renting a car, an
invoice of the rental company is required.
Meal Voucher
Meal Voucher of Rs.2,600/- will be deducted from the special allowance.
Telephone and Internet Expenses
To facilitate communication by providing mobile phone expense reimbursements to employees who are
authorised,subject to it being deemed necessary for an employee to use mobile phone/ broadband towards
business communication, mobile phone bills and broadband charges are reimbursed as per the limits set.
Employees will be reimbursed when using their personal cellular telephone, broadband charges, internet
expensesfor business purposes:
• which are reasonable and necessary for conducting business.
• The bills should be in employees’ name and submitted through D Tax on or before 20th of every month.
The limits for expense reimbursement are as follows:
Band Permissible limit per month
Eligible Employees Rs. 5,000
Employees can choose to opt in for telephone/ internet expense reimbursements. For employees who would
like to opt in, the declared amount (subject to maximum permissible amounts as per above table) will be
deducted fromtheir special allowance and paid through reimbursements subject to furnishing of bills.
Fuel Expenses and Vehicle Maintenance, Insurance
The employees can claim the vehicle running and maintenance expenses for commuting to office and visiting
client places. The employee should provide a self-declaration that the expenses are incurred for official
purposes.
The limits for vehicle running and maintenance expenses are as follows:
Band Permissible limit
per month
Eligible Employees Rs.25,000/-
Employees can choose to opt in for vehicle running and maintenance reimbursements. For employees who would
like to opt in, the declared amount (subject to maximum permissible amounts as per above table) will be deducted
from their special allowance and paid through reimbursements subject to furnishing of bills in Detax app. Eligible
employees should provide RC book copy to claim this allowance. The RC of the Vehicle should be in the employee’s
name.
Driver’s salary
The employees can claim the driver’s salary for commuting to office and visiting client places in D Tax App (Claim).
The employee should provide a declaration that the expenses are incurred for official purposes.
The limits for driver’s salary are as follows:
Band Permissible limit
per month
VP & Above Employees Rs.21,600/-
Employees can choose to opt in for driver’s salary reimbursements. For employees who would like to opt in, the
declared amount (subject to maximum permissible amounts as per above table) will be deducted from their special
allowance and paid through reimbursements subject to furnishing of bills in the expense management system. The
employee needs to provide the payment proof and license copy of the driver.
GENERAL GUIDELINES
• All employees must respect mentioned timelines. The monthly Bills/claims must be submitted in D Tax
On or before 20th of every month.
• In case where employee is not able to claim the said benefits on or before 20th of month, then suchclaims
may be considered in subsequent month.
• Employees can choose the amount for all components of the Flexible Benefit Plan (FBP) category, except for the
Food Allowance. They can select the amount based on their monthly needs, up to the maximum limit specified
for their FBP eligibility.
• The claim is subject to predefined checks, balances and submission of relevant bills and receipts.
• Payroll/Accounts team have all rights to reject the unauthorized bills.
• Management has all the right to withdraw and/or amend these flexi components on periodically basis.
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