What is estimated benefit cost for company car in SAP PA-BN-FB - Flexible Benefits?

SAP Term: estimated benefit cost for company car

• Component: PA-BN-FB

• Component Name: Flexible Benefits

• Description: Estimated cost to the employer of providing a company car to the employee in the System, at the time of enrollment. The factors that influence the actual benefit cost of company car are: Cost price of the car or for the lease car, the leasing cost of a car Running costs for the car insurance, petrol, repairs, road tax Class 1A NICs that are paid by the employer at tax year end If the employer provides free petrol for the car, a fuel scale charge applies and Class 1A NICs will be payable on the fuel scale charge at tax year end Administration costs of running a company car scheme The actual benefit cost of any given car selected in the System depends on a combination of the factors above, which vary over time and from one car to another. However, to simulate the flexible benefit cost of providing the company car during enrollment when many of the cost factors for the car are not yet known, only an estimated benefit cost of company car is ca

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• Key Concepts: 
  Estimated benefit cost for company car is a component of the SAP Flexible Benefits (PA-BN-FB) module. This module allows companies to provide employees with a range of benefits, such as company cars, that can be tailored to their individual needs. The estimated benefit cost for company car is the estimated cost of providing a company car to an employee, based on the type of car and other factors. 
  
  How to use it: 
  The estimated benefit cost for company car can be calculated by entering the details of the car into the SAP Flexible Benefits module. This includes the make and model of the car, its age, and any additional features or options. The module will then calculate the estimated cost of providing the car to an employee. 
  
  Tips & Tricks: 
  When calculating the estimated benefit cost for company car, it is important to consider any additional costs that may be associated with providing the car, such as insurance or maintenance costs. These costs should be taken into account when calculating the total estimated benefit cost for company car. 
  
  Related Information: 
  For more information on SAP Flexible Benefits (PA-BN-FB) and how to calculate the estimated benefit cost for company car, please refer to SAP’s official documentation.