Service Benefit

Service Benefit allows users to define and manage employee benefits based on separation type, years of service, designation, age, and other criteria. Users can enter details such as benefit name, applicable closing type, separation type, calculation basis, amount, and any multipliers or slabs. All service benefits can be viewed, filtered, edited, or added from the list and applied automatically during the employee’s final settlement in PrismERP.

Add Service Benefit

Field	Action
Name	Enter the name of the service benefit.
Closing Type	Select the type of closing the benefit applies to (e.g., resignation, termination, retirement).
Separation Type	Select the type of separation for which this benefit is applicable.
Separation By	Specify whether the separation is initiated by the employee or the employer.
Description	Enter a description or notes about the service benefit.
From	Enter the starting range for the slab (e.g., years of service, age).
To	Enter the ending range for the slab.
Designation	Select the designation(s) this slab applies to.
Employee Category	Select the employee category applicable for this benefit.
Age From	Enter the minimum age for eligibility.
Age To	Enter the maximum age for eligibility.
Calculation On	Specify the basis for calculation (e.g., basic salary, gross salary).
Amount	Enter the amount of benefit applicable.
Multiplier	Enter any multiplier to be applied in the calculation.
Divide By	Enter any divisor to be applied in the calculation.
Description	Enter additional notes or explanations for the slab.
Round Down Service Year	Select if the service year should be rounded down for calculation.
Service Year On	Specify the reference date or basis for calculating service years.

Users can view all service benefits from the list and filter them by name, code, closing type, separation type, or separation by. From the list, users can also edit existing service benefits or add new ones. These service benefits can then be applied during the final settlement process for employees.