Please note that for a component to be considered FBP it has to be included in the employee's CTC.
Here is a step-by-step guide.
Step 1: Go to Custom Earnings.
Step 2: Create the FBP component.
Step 1: Go to Custom Earnings.
Go to the Salary Components tab in the left navigation bar.
Click on the Custom Earnings tab.
Step 2: Create the FBP component.
Click on the New Custom Earnings option.
Enter the Earning Name and Description.
You may select either Fixed Pay or Variable Pay.
Click on the Next button.
Select if this is a taxable component by using the toggle button.
You may enable the toggle button to choose if it is in CTC or not.
You may enable this salary component as a part of FBP by using the toggle button to display Yes.
You may choose if this component should be calculated on a pro-rata basis.
You may enable the toggle button if the component will be considered for EPF contribution.
You may choose if you want the component to be considered for ESI contribution as well.
Click on the Next button.
View the summary of all the details and then click on Create.
