Your company adds the gross annual salary, so that the system is able to calculate what is the legal maximum you can consume in tax-exempt benefits. This information is vital for you to be able to take full advantage of the benefits you are entitled to.
How do you calculate the approximate net salary that you will see in your App?
At Cobee's, we have used the gross annual salary to make an approximation of how much your net monthly salary would be based on 12 payments. This way, you can get a general idea of how much money you will receive each month.
However, it's important to note that calculating exactly what your take-home pay is would require a lot of additional information that we don't have at this time. Don't worry, we are working on getting that data to provide you with a more accurate calculation in the future.
Why do we use this information?
At Cobee, we have two main reasons for requesting this information and both are intended to provide you with greater value:
- To calculate the legal maximum you can consume in tax-exempt benefits. This way, you can take full advantage of the tax benefits you are entitled to and optimize your income without fear of exceeding it.
- Show you your total compensation and give you even more information about the value Cobee's represents for both you and your company. We want you to have a clear and complete picture of the benefits you are getting through our platform.
We hope you find this information useful, and we remain at your disposal to provide you with any additional information you may need.