At Payflip, we make the process around your multimedia device as transparent as possible. Here's everything you need to know about ownership arrangements and usage period!
🤔 Do you become the owner immediately?
No, you don't become the owner of the device right away. Here's how it works:
The device is first "made available" to you for 24 or 36 months
Your employer remains the owner during this period
This structure ensures the most tax-advantageous situation for you
⏳ The Usage Period
You can easily check the exact usage period in Payflip:
Go to the "Benefits" page
Click on your desired benefit (smartphone, tablet, PC, or accessories)
Click on "Your usage period"
💰 What happens after the usage period?
When the usage period ends:
You take over the device from your employer
You become the new owner
A Benefit in Kind (BIK) will be charged on your payslip
Calculating the residual value
The residual value = 20% of the original purchase price
You only pay:
Employee social security contributions (13.07%)
Withholding tax (20-40%)
You don't have to pay the residual value again in net!
🔢 Practical calculation example
Let's say: Your device has a purchase price of 1,000 EUR
Residual value = 20% = 200 EUR
Employee social security = 26.14 EUR
Withholding tax ≈ 61 EUR
Net cost for you = approximately 87.14 EUR
⚠️ Good to know: This net cost is already included in the net benefit you see in Payflip!
What happens to my multimedia devices when I leave the company?
When you leave the company, you take over the device from your employer and become the owner. Depending on the budget with which you chose the device, a different procedure will be followed.
When you leave the company, a settlement will be made based on two components:
Financing of the actual usage period of the device:
Payflip will check, based on the end date of your employment contract, if there is any outstanding balance for the months you have actually used the device. If this is the case, the outstanding balance will be charged at that time.
✅ If you are entitled to a year-end bonus upon leaving, this outstanding balance will be charged to your year-end bonus.
❌ If you are not entitled to a year-end bonus upon leaving, the outstanding balance will be charged to your net holiday pay. If this is not sufficient, the balance will be deducted from your net salary.
Takeover price of the device:
Payflip will calculate the takeover price of the device based on the end date of your employment contract. The takeover price at that time depends on the budget with which you financed the device:
In the case of financing through a bonus budget, the employer will charge a benefit in kind of 20% of the original value of the device on the payslip, which will be subject to taxes and social security contributions.
In the case of financing through a year-end bonus budget, the takeover price is determined based on the book value of the device on the day you leave the company. In this case, the takeover price will be deducted from your net holiday pay. If this is not sufficient, the balance will be deducted from your net salary.