Frequently asked questions

Everything you need to know about the product and billing.
What are gratuity contributions?
Contributions are monthly payment made by the employer to cover its gratuity liability to its employees as per the applicable local labor law. This amount is calculated on monthly basis and it depends on both the basic salary of the employee and the length of service. FinFlx helps employers fund and manage that liability in order to maintain a healthy balance sheet and improve corporate governance. Moreover, it promotes a culture of trust between employers and employees.
How do I know how much contribution to pay on monthly basis?
You can build a financial model (big complex spreadsheet) and maintain its accuracy by adjusting it every time an employee joins or leaves. OR you can let us do all the admin work for you. Once you add your employee details on FinFlx platform, all the numbers are calculated and shown to your team clearly and accurately. That in itself is invaluable saving of time and money, keeping your team focused on critical business operations and avoiding hefty fines for miscalculated or unpaid gratuity dues.
How does FinFlx calculate monthly contributions?
Our algorithms run thousands of calculations in the background to ensure that the numbers presented to our clients are accurate and in line with applicable labor laws. The calculation is based on every business’s jurisdiction, applicable labor law and employment details of its staff. Better yet, any changes or updates to the regulations are implemented by default in our systems. We gather all relevant information from government and legal resources so you don’t have to.
Does this contribution go directly to employees?
No, any amounts in the gratuity fund is held directly under the name of the company (employer). As and when an employee (or group of employees) leave the company and are entitled to gratuity payment, the employer can then withdraw the equivalent amount to the payment due and payout directly to the employees. FinFlx helps employers manage both the contribution and withdrawal of funds with full flexibility and at no extra cost.
What currencies does FinFlx accept?
FinFlx accepts contribution deposits in UAE dirhams. Client deposits are accepted strictly from a local corporate bank account under the same name/control of the legal entity (company). FinFlx has partnered with Emirates NBD bank for the safe custody of client deposits.
What is the cut off times for processing deposits and withdrawals in my account?
FinFlx makes its best effort to process all funding and withdrawal request as soon as possible. We process all requests throughout Mon - Thursday before 3pm GST and on Fri before 1pm GST. Any requests received after the cut-off times will be processed the next business day.