Employee Benefits
- by Admin
As a part of our accounting services for the Employee Benefits such as Gratuity, Leave Encashment, LTC, and Pension etc. â we provide actuarial valuation in order to help companies determine their liability figures.
The valuation is done as per the Indian Accounting Standard 19 issued by Institute of Chartered Accountants of India.
Following Steps are involved in conducting the valuation:
- Submission of employeesâ data in the required format
- Approval of quoted fees
- Sharing of draft report
- Amendments to the report (if any)
- Sharing final report
- Payment of fees
The entire process is done over e-mail and requires one working day in most cases.
Our report is not a certification and does not involve an Actuary. Indian Accounting Standard -19 does not require involvement of an Actuary for accounting of Employee Benefits.