Companies are phasing out remote work and coaxing employees to return to the offices. Looking at the reluctance of employees to part with remote work setup, employers are seeking ways to incentivize them to come back to the campus. One potential perk that is gaining popularity is meal cards. Quite a few organizations are relying on meal cards for employees as they provide multiple benefits including tax-saving opportunities. However, offering meal allowances for employees can quickly become an operational roadblock if mismanaged. You can simplify this through Zaggle Zinger Cards.
In this blog, we will understand how Zaggle meal cards allow you to improve your employee experience through tax-free allowance.
Zaggle Zinger Cards
Zaggle Zinger Cards are multi-wallet prepaid payment cards that allow users to purchase food items and non-alcoholic beverages at both online and offline outlets. It works similarly to your debit card giving you the convenient option of making secure payments. It is an end-to-end payment solution that allows employers to provide food allowance to employees through an automated workflow.
Zaggle Zinger Meal Card offers a range of benefits like:
- Provides a digital-first payment solution.
- Allows contactless transactions.
- Fully compliant with RBI and IT regulations.
- Completely secure and PIN-enabled.
- Allows you to manage expenses via the mobile app
Significance of Zaggle Zinger Meal Cards
Zaggle Zinger Meal Cards allow employees to pay for their food and drink expenses through the modern payment method of touchless transactions. Employers issue these prepaid food cards with employee benefits platforms like Zaggle SAVE and load them with food allowance amounts. Similar to a debit card, employees can use this card for as long as they have sufficient balance. However, they can only be used for food items at cafes, restaurants, and grocery stores.
Zaggle SAVE allows employers to offer meal benefits to their workforce as per their preferences and expectations. Doing this manually using spreadsheets can be cumbersome, especially when calculating applicable allowance amounts and tax implications. However, Zaggle allows you to automate the process to save time, effort, and resources while eliminating errors.
Tax Savings with Zaggle Zinger Meal Cards
Below are some of the ways that Zaggle meal cards allow employees to save tax through food allowance.
Tax-free access to meals
Zaggle Zinger Meal Cards are primarily used to offer food allowance amounts to employees for their meal purchases. Annually, employees can save up to Rs 42,000 in taxes through this benefit. Generally, salaried professionals are allowed tax deductions through investment options with a mandatory lock-in period. Availing of the food allowance makes them eligible for tax exemptions.
Club other allowances in one card
Zaggle Zinger Card is a multi-benefit prepaid card that allows you to manage all your allowances. Under the Indian tax laws, salaried individuals can claim a tax-free allowance for a wide range of things like fuel, gifts, LTA, telecom, transport, books, and so on. With Zaggle SAVE, you can create multiple wallets and load the card allowances so that employees can manage all their benefits from a single card.
Easy to manage compliance
Meal allowance is meant for purchasing food items only. However, employees can unintentionally use these funds to make invalid transactions causing compliance issues. Zaggle Zinger cards help you avoid this by categorizing expenses and enabling real-time visibility into your purchases.
Access to reports and insights
Zaggle Zinger Meal Cards empower employees to make smart decisions with respect to their food purchases by generating automated reports. Employees can use these insights to properly plan their budget and make smart decisions. Zaggle SAVE provides a smart and intuitive management system accessible across devices so that they can constantly monitor their expenses closely.
Help Employees Save More with Zaggle Zinger
Zaggle Zinger Meal Card is a prepaid card option that allows employers to modernize their employee benefits. Instead of managing paper-based food coupons, they can use a reusable food card to make their food purchases. Zaggle Zinger allows you to meet changes in employee expectations as well as allows you and your employees the flexibility to add more benefits through a multi-wallet option.
