Calculation Sheet Of Annual Premium Of LIC Policy Group Gratuity Scheme
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Our Policy Group Gratuity Scheme includes the following information:1) 79 employees.2) Average age of 33.04.3) Average monthly salary of Rs. 8513.70.4) Average past service of 4.96.5) Present Value (PV) of Past Service Benefit: Rs. 1554491.6) Current service cos...
Calculating the annual gratuity premium can be a bit complex as it depends on various factors such as salary, length of service, and the gratuity formula used. However, based on the information you provided, here's a general approach you can take:1\. Start with ...
I was an employee of a Private Limited Company, whose business is making paper mill machinery from 01-06-2007\. On 1-1-2011, the management of the said company transferred me to another private limited company whose business is making paper. The directors of bot...
1\. The contents of the letter need to be reviewed to understand whether it was a case of transfer or a new appointment.2\. Having said that, since an equitable transfer of interest has taken place, indicating a transfer between group companies, the date of join...
Your services were transferred with continuity of service from one group company to another group company. Consequently, you are entitled to gratuity from your original date of joining. Furthermore, your previous gratuity amount has already been transferred to y...
Thank you for your information on how to determine the average monthly salary.
How to calculate the current service cost?–-
Our Policy Group Gratuity Scheme includes the following details:1) 10 employees2) Average age of 47.303) Average monthly salary of Rs. 8533.704) Average past service of 20.805) Present Value (PV) of past service benefit: Rs. 9975986) Current service cost: Rs. 47...
To calculate the premium amount for the LIC Group Gratuity scheme, follow these steps:1\. **Determine the Gratuity Liability**: Calculate the total gratuity liability based on the number of employees, their salaries, and the number of years they have been in ser...
I need to understand the calculation of the premium amount for LIC Group Gratuity scheme.–-I can help you with the calculation of the premium amount for the LIC Group Gratuity scheme. The premium amount is typically determined based on factors such as the total ...