First, it is the foreign earned income exclusion.  Unearned income (interest, dividends, passive rental income) is not eligible for the exclusion.)

Your income is foreign earned income if you are living overseas when you performed the work for which you were paid, regardless of where the payer is located.

https://www.irs.gov/individuals/international-taxpayers/foreign-earned-income-exclusion

https://www.irs.gov/individuals/international-taxpayers/foreign-earned-income-exclusion-what-is-fore...

You also have to meet certain other requirements. 

If you meet all tests it doesn't matter if your employer is a US company, and deposits your pay in US bank. Here are rules:

 The tax home must be in a foreign country, and

• The taxpayer must have foreign earned income, and

• The taxpayer meets either the bona fide residence test or the physical presence test. 

If you are unfamiliar with these terms, I suggest you see a tax professional, as there are additional considerations.