Employee Benefit

Actuarial Valuation of Gratuity/Leave Encashment/Medical Benefits

• Actuarial Valuation of Gratuity as per Gratuity Act 1972 and AS15 revised
• Actuarial Valuation of Gratuity as per IND AS 19
• Actuarial Valuation of Gratuity as per IAS 19 R
• Actuarial Valuation of Gratuity (as per US GAAP ASC 715-30)
• Actuarial Valuation of Pension/Superannuation
• Actuarial Valuation of Sick leave and Previlege leaves
• Actuarial Valuation of Post Retirement medical benefits
• Actuarial Valuation of Long Service benefits (life loyalty bonus etc.)
• Actuarial Valuation of Health related benefits
• Actuarial Valuation of Disability benefits

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Date: 27-March-2018

The Institute of Actuaries of India has introduced a new Actuarial Practice Standard (APS) on Employee Benefits (APS 27) (the “Standard”), which applies to all actuarial work relating to employee benefits effective 01-Jan-2018. This is a principle-based standard that’s aims to strengthen actuarial work/valuation related to:

• Gratuity Valuation
• Leave Valuation (Privilege / Earned, Sick etc.)
• Post-Retirement Pension Valuation
• Post-Retirement Medical Scheme (PRMS) Valuation
• Long Service Awards Valuation

You can access the new APS by clicking on any of the following links

APS 27 comprises of two major sections:

1. General Principles (Section 8 of the standard)
2. Technical Application section (Section 9 of the standard)