Optima Books & Periodicals is a digital card designed to help organizations to get tax exemption on books & periodicals expense.This benefit is extended by employer to employees for purchasing newspapers, magazine, books and periodicals which are related to the profession of the employee.
HR needs to load currency into the employee’s Books & Periodicals card prior to issue the card to employees. An employee can redeem the balance of their the card against books & periodicals expense to save income tax.
It is mandatory for the employees to submit the bills as evidence. Limit of reimbursement for driver salary varies with the different organization.
The entire program can be customized to suit your company's policy.
Zeta doesn’t own any tax accounting responsibility on corporate conveyance allowances. It is recommended to organizations to adhere to the IT guidelines to deal with both conveyance allowance and reimbursement of driver salary expenses.
Potential Challenges Zeta Addresses
Some challenges that we are trying to overcome are:
Cumbersome claim process.
Housekeeping the manual bills and high probability of losing the bills.
Manual verification, approval and delay in payment settlement
Key Features
An array of features of Books & Periodicals Card are:
Provides web interface for HR professionals and mobile app interface for employees which is available in android, iOS and windows versions.
Enables HR to create and manage Driver Salary Card orders with a provision of using custom configurations.
Enables employers to revoke unused amount of the card.
Enables employees to upload bills for reimbursements.
Enables employees view and analyze every transaction data and invoices.
Key Benefits
Book & Periodicals Card delivers the following benefits for employers:
Streamlines the overall reimbursement process.
Provides easy way of managing employees' accounts digitally.
Optima Driver Salary Card delivers the following benefits for employees:
Eliminates the need of manual bill submission since it is a prepaid instrument.
Provides a secure and easy way to use and redeem books & periodicals to save tax.
Provides premium customer support.
n employer to an employee for purchasing newspapers, books and periodicals which are related to and/or aid in the profession of the employee. Therefore employee can purchase the aforementioned goods and submit bills for reimbursement. Zeta Books & Periodicals Benefits follows the reimbursement model.