Friday, December 18, 2015
We specialize in Providing Actuarial Valuation Services, which involve the evaluation of financial obligations to be discharged at a future date. The specific areas of application are:-
· Actuarial Valuation for Gratuity Plans (as per Payment of Gratuity Act, 1972 -amended or as per company specific benefit structures).
· Actuarial Valuation for Earned Leave Plan.
· Actuarial Valuation for Sick Leave Plan.
· Actuarial Valuation for Defined Benefit Pension Plans.
· Actuarial Valuation for Post Retirement Medical Benefit Plans.
· Actuarial Valuation for Settlement Allowances on Retirement.
· Actuarial Valuation for Long Service Award Plans/Incentive Plans.
· Actuarial Valuation for Interest Rate Guarantee for Exempted Provident Funds as per the Guidance Note 29 issued by the Institute of Actuaries of India under Revised AS 15 (Revised 2005).
· Any other Defined Benefits not covered above.
The important items which need disclosure for compliance of the above Accounting Standards for Employee Benefits are:
· Projected Benefit Obligation at the Start of the Accounting Period
· Current Service Cost
· Past Service Cost
· Interest Cost in Indian GAAP
· Net Interest Cost (Income) in IAS -19 (Revised 2011) under IFRS
· Other Comprehensive Income and Reimbursements in IAS -19 (Revised 2011) under IFRS
· Actuarial Gain/Losses in Indian GAAP
· Projected Benefit Obligation at the End of the Accounting Period
· Current and Non- Current Obligations as required Revised Schedule VI in Indian GAAP