It doesn't include the Trümmelbach falls. You pay for them. From Wengen to the Jungfraujoch it covers 25% of the cost. Jungfraujoch/Grindelwald/Lauterbrunnen/Wengen - you pay 25% of the cost to Grindelwald and then it covers you 100% from there to Zweilütschinen to Lauterbrunnen to Wengen.