Acturial Valuation Gratuity Calculation
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@Ronnie:> Hi,> Gratuity valuation by a certified Actuary is essentially required to ensure that the organization has made necessary provisions for the payment of gratuity to its employees upon resignation or winding up. Internal/External auditors use the Actuary...
Dear friend,Beside gratuity, any other HR expense must be considered for provision in the accounts books so that the accounts department may correctly record the accrued expenses for the coming year. Provisions should also be made for leave encashment, bonuses, ...
Dear Smita,As far as I know, if you have more than 20-25 employees, you need to do a gratuity valuation annually. This is mainly from an accounting perspective as they do it for the balance sheet and P&L preparation. It is preferred if you use an actuary to do t...
Hi,If the gratuity fund is maintained by a trust in the organization, you may have to get it certified by an actuary. Even if we have done the calculations which are 100% accurate, it has to be certified by the actuary. We may have to provide our assumptions on ...
My company has LIC group gratuity insurance to cover its gratuity liability. LIC provides the fund balance and actuarial valuation annually. Now, my question is whether my company needs to revalue the gratuity liability with an independent valuer or if the valua...
You should get an independent valuation done as per AS-15\. LIC does the valuation from a perspective of premium calculation.
How to Calculate Current Service Cost in gratuity:1\. Number of Employees: 8Average Age: 43.75Average Monthly Salary: 4783.87Average Past Service: 192\. Results of Valuation- PV of past service benefit: 456967- Current Service Cost: 21371- Total Service Gratuity...
Dear Karthik.61090@Yahoo.In,I have a doubt that you will get an answer to your query on this forum. It is a specialist subject of Actuaries. No actuary will tell you how they calculated the above figures. Even if any actuary tells you this, you will not understa...
I know Kapadia Actuaries & Consultants is a leading Gratuity & Actuarial Valuation Consultant in India as I have personally worked with them. I want to know the best consultant outside India.
**Best Gratuity & Actuarial Valuation Consultant Outside India**When seeking a top-notch Gratuity & Actuarial Valuation Consultant outside India, it's essential to consider reputable firms known for their expertise in actuarial valuations and related services. O...