Saturday, March 18, 2017

Shout out to HR Teams - Save some tax for your employees with Zeta Optima



Looks like a dream come true offer for the employees! The days of punching the bunch of colleterals while submitting the reimbursements seem over! I found this info and sharing as is, as it looks very interesting but only HR personnel would be rightly placed to evaluate and take it ahead.

HR TEAM needs to look at this - 

These offers can help save tax and resources for both employees and employers.

(Information sourced from ZETA - Information included as is)

The Zeta payment suite gives users access to over 11 lakh outlets and can be used to make online payments as well.

Zeta Optima is fully compliant with the Income-tax act and RBI guidelines. It's the only solution that has been certified compliant through a written opinion by every one of the big 4 Accounting firms: KPMG, Ernst & Young, PriceWaterHouseCoopers and Deloitte.

Optima is used by over 70,000 users, across 600 organisations that:
       have eliminated paper while managing employee benefits
       send grants instantly to employees
       outsource claim verifications
       customise the programme and set usage rules
       generate on-demand digital reports
     receive audit-ready statements

The Optima suite of smart benefits includes:

Optima Meal Vouchers
An electronic meal voucher programme that replaces non-compliant paper vouchers and meal cards, with a 100% compliant, fully digitised solution. Optima Meal Vouchers can be spent via the Zeta app and the Super Card at 3 lakh+ outlets and can help your employees save up to Rs 11,880 every year. Optima Meal Vouchers can also be spent at office cafeterias with the Zeta Super Tag.

Optima Medical Reimbursements
The first fully digitised medical reimbursements programme in India, Optima Medical Reimbursements lets employees file claims on-the-go via the Zeta app. Through Optima Medical Reimbursements, employees can save up to Rs 4,500 in taxes, every year. Optima Medical Reimbursements grants can be spent via the Zeta app and the Super Card.

Optima Fuel & Travel Card
A digitised solution to manage fuel and transport expenses, employees receive grants from their organisations on their Optima Fuel & Travel Card. The balance in this virtual card can be spent at any fuel or vehicle maintenance station via the Super Card. Employees also have the option to upload bills via the Zeta app and file for fuel or transportation reimbursements. Employees can also use the Fuel & Travel Card to file claims against costs incurred during their commute to work. On the whole, employees can save up to Rs 11,880 in a year.

Optima Communications Card
The Optima Communications Card is a digital solution that helps users save up to 30% in taxes on communications bills. Employees receive their communications grants on their Optima Communications Card, which they can use to pay mobile, landline, data card and internet bills via the Zeta app.

Optima Gadget Card
The Optima Gadget Card not only allows employees to save up to 30% in taxes on the purchase of gadgets, it also helps organisations save tax on the gadget’s depreciation. Employees receive grants to purchase gadgets in their Optima Gadget Card, which they can either claim on a monthly basis or accumulate to purchase a gadget at the end of the year with the Super Card or via the Zeta app.

Optima LTA Card
Definitely the most compliant LTA programme out there, the solution is the first digitised LTA claims platform in India. Optima LTA Card ensures your claims are in line with all compliance guidelines and gives organisations the flexibility to outsource verifications of travel documents to Optima. Employees can upload relevant documents via the Optima LTA Card on the Zeta app and receive reimbursements. They can save up to 30% in taxes with the Optima LTA Card.

Optima Gift Card
With the Optima Gift Card, employees can receive tax-free electronic gift vouchers of up to Rs 5000 in value from their employer. These gift vouchers can be spent at over 11 lakh outlets and online through the Zeta Super Card or the Zeta app.

Optima Books & Periodicals Card
Designed to encourage, sharpen and develop new skills, the Optima Gift Card is a digital solution to claim reimbursements on journals, reading materials, books and more. Employees receive grants in their Optima Books & Periodicals Card, which they can spend using the Zeta Super Card. Through the Optima Books & Periodicals Card, employees can save up to 30% in taxes.

Optima is built to be comprehensive, it can be tailored to include any tax perquisite that a company may wish to offer. It is also flexible, allowing organisations to customise how each programme is implemented.

This table will give you a break-up of how employees under different tax brackets can save maximum amount of tax:

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