Benefits and Flexible Compensation

Employee benefits form an important part of the compensation strategy of any organization. The PeopleNet Benefits module enables complete and integrated management at different levels:

• Payroll and tax calculations:
  • Payroll deductions due to benefits given to employees.
  • Impact of the benefits in tax calculations for both the company and employees.
• Human Resources, where eligibility for benefits is based on the following factors, among others:
  • Employee age and family dependencies.
  • Years of service and contract conditions.
  • Employee position or company.

Legal compliance for the purposes of social security or national insurance contributions and income tax deductions vary depending on the type of benefit, so it is necessary to keep in mind the latest legislation in force affecting salary payments and contributions.

The process flow below shows the different stages for deploying benefits management in an organization.

Define plans for corporate benefits or by benefit groups (health, life, disability insurances, etc).

Determine which employees are eligible for specific benefits based on a set of criteria and rules.

 

Simulate and subscribe to benefit plans.