ACTUARIAL VALUATION PROCESS

Actuarial Valuation process for Employee Benefits for Compliance of Accounting Standards for Plans such as Gratuity, Leave Encashment, Post Retirement Medical Benefits, Pension etc. etc. generally involves following steps:-

·       Data preparation

·       Decision about assumptions both Financial and Demographic

·       Details of Fund Position if liability is funded

·       Method of Valuation (Projected Unit Credit - PUC Method)

·       Plan Provisions

·       Final Report and Disclosure Tables