Associate has the flexibility to restructure the FBP eligibility within his/her salary by choosing one or more of the FBP Components mentioned below.
The FBP is based on the current tax laws, Company’s interpretation of such tax laws and the legal advice received by the Company. Any change in the tax laws and / or interpretation may lead to a change in this plan, which will be intimated to Associates in advance.
The Company may, at its sole discretion, alter, amend or delete any of these benefits at any time to comply with statutory provisions. The grade specific eligibility and applicable annual limits per component are as under:
|Grades/ Reimbursement||Executive (Band 1 to 3) & Senior Executive (Band 1 to 2)||Assistant Manager (Band 1 to 2) & Deputy Manager (Band 1 to 2)||Manager (Band 1 to 2) & Deputy Senior Manager (Band 1 to 2)||Senior Manager (Band 1 to 2) & Deputy General Manager (Band 1 to 2)||General Manager and Above|
|Leave Travel Allowance||1 Month Basic Once In 2 Years||1 Month Basic Once In 2 Years||1 Month Basic Once In 2 Years||1 Month Basic Once In 2 Years||1 Month Basic Once In 2 Years|
|Driver Salary When In Lieu Of Transport Allowance||10800||10800||10800||10800|
|Fuel & Maint In Lieu Of Transport Allowance||21600 (Fuel)+ 28800 (Maint)||21600 (Fuel)+ 28800 (Maint)||21600 (Fuel)+ 28800 (Maint)||21600 (Fuel)+ 28800 (Maint)|
|Food Allowance (Paytm Food Wallet)||1100/ 2200||1100/ 2200||1100/ 2200||1100/ 2200||1100/ 2200|
|Telephone Allowance||12000||15000||18000||20000 (For GM level) & 24000 (For others)|
Transport Allowance of Rs 1600/-PM is by default admissible for all associates when not opted for Fuel & Driver Salary under the FBP Option.
Associates joining/separating/relocating during the year, will be eligible for pro-rata FBP limit as applicable to them