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Greytip Online provides you a comprehensive set of features and tools to enable you to manage all aspects of employee Reimbursement management.

The salient features of the Reimbursement module are:

1. Configure any number of Reimbursement Components
   • for e.g. you can create components for Medical, LTA, Petrol, Vehicle Maintenance, etc.
2. Each Reimbursement component can have a Entitlement (upper-limit) or a "no-upper-limit".
3. The Entitlement (upper-limit) of the Reimbursement component can be totally configured by you. The various options are:
   • The Entitlement can be updated by you manually. For e.g. LTA Entitlement is Rs. 30,000 for this employee
   • The Entitlement can be grade-based, designation-based, etc. For e.g. LTA Entitlement for Grade 1 is 30000, Grade 2 is 25000, Grade 3 is 20000, etc.
   • The Entitlements can be a formula. For e.g. LTA Entitlement is 40% of Basic
4. In terms of the amount that can be claimed, you have the flexibility to allow the employee to claim fully (his entire entitlement) or allow him to claim only his till-date Entitlement. To explain this further, take an example. Assume that an employee has a LTA Entitlement of Rs. 36000.
   • You can configure that the employee can claim upto 30,000 at any point - it could be beginning of the year, middle, etc.
   • You can configure that the employee can claim upto his entitlement till date - it is upto Rs. 3000 (i.e. 36000 / 12) in the first month, upto 6000 in the second month, etc.
5. Automatic recalculation of the Entitlement based on LOP (Loss of Pay) or changes in salary. For e.g.
   • If a person has a one day LOP, then this Entitlement will reduce to that extent
   • If the salary of the person increases from July, then the Entitlement will increase correspondingly
6. Facility to automatically pay the Reimbursement Balances at the end of the year or during Settlement
   • For e.g. if an employee has not claimed his LTA fully, then the application will automatically calculate the balance and pay it out as a taxable component.
7. Facility to include the reimbursement components either in the Payslip or make them part of a separate Reimbursement payslip
8. Facility to create a separate Bank Transfer statement for Reimbursement components. This would be applicable if they are not part of the Payslip.
9. If you have take the ESS (Employee Self Service) option, then your employees can see detailed Reimbursement statements including Entitlements, Claims and Balances.
10. In the ESS option, you also have the facility to enable an employee to make a reimbursement claim online.