What is flexible component of TFP?

Free stay in any Mahindra resort through out the year. Fully furnished bunglow to stay in at prime location. Private cook and army of butlers at disposal. Profit sharing with company (so you get a percentage of profit which Tech Mahindra makes)

What is Flexi declaration in Tech Mahindra?

The employees at Tech Mahindra have the option to get reduced hours of work according to our Flexi program. The number of working hours is 40 hrs per week and only 5 days a week. There is a minimum limit of 5 hrs for an employee to work on the campus and the rest can be covered up in the rest of the week.

What is the variable component in Tech Mahindra?

Tech Mahindra offers a variable payout/bonus for most of its employees. The payout is based on performance. The variable pay to the majority of employees has been protected and will be paid as per the policy. However top executives of the company voluntarily decided not to take their bonuses in the June quarter.

What is flexible reimbursement?

A flexible benefit plan in India allows employees to structure and modify CTC components based on the offered benefits like medical expenses and conveyance. The HR department is offering HRA, DA, conveyance, and basic pay. However, James owns a house and doesn’t need to rent a place.

What is flexible benefit allowance?

With a flexible benefits allowance, employees are allocated a set value which they can spend on employee benefits of their choice. Typically, employees can either use their allowance to cover the full cost of a benefit or range of benefits or they also have the option to contribute themselves.

What are flexible components?

An employer provides various flexi components, which an employee can claim based on the actual expenditure incurred by them….Such components include:

• Broadband and telephone.
• Fuel expenses and driver allowance.
• Books/periodicals/self-learning expenses.
• Meal coupons.
• Gifts.

Is flexible component taxable?

The company may issue food bills such as meal or grocery coupons (Sodexo coupons or meal vouchers) to its employees ranging from Rs 2200 to Rs 3000. Such bills are is tax-free for the employees and can be reimbursed.