Liability
February 26, 2024

Best Practices for Determining Duration of Liability in Discount Rate Setting

In actuarial valuation, determining the duration of liability for setting discount rates is important. It helps in accurate financial forecasting and risk management. Organizations need to understand the best practices in this process. It will help them optimize their financial

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Actuarial valuation
February 26, 2024

Is Actuarial Valuation Relevant for Assessing Leave Scheme Liabilities?

Paid leave keeps employees happy, but it also comes with a cost. How much? Actuarial valuation unlocks the answer.  Leave schemes are an important part of the overall employee compensation package. It includes annual leave, sick leave, and other types

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IND AS 19
February 26, 2024

Applicability of IND AS 19 on Gratuity Valuation

Gratuity Valuation is a crucial aspect of financial planning for businesses. It represents the future liability a company incurs towards its employees for their service over the years. Now, enter IND AS 19. This accounting standard, in line with the

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AS15R on Gratuity Valuation
February 26, 2024

Applicability of AS15R on Gratuity Valuation

AS15R, also known as Accounting Standard 15 Revised, significantly impacts how organizations value gratuity liabilities. This accounting standard sets guidelines for the measurement and disclosure of employee benefits, including gratuity. Under AS15R, companies must conduct actuarial valuations to accurately assess

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Actuarial valuation
February 26, 2024

Applicability of Actuarial Valuation on Different Types of Leave Policies

Actuarial valuation plays a vital role in assessing the financial implications of various employee benefits, including leave policies. These policies encompass different types, such as annual leave, sick leave, and maternity/paternity leave. Actuarial valuation helps organizations understand the present and

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Leave Encashment Valuation
January 12, 2024

The Impact of Leave Encashment Valuation on Business Finances

Every employee saves their paid leave days to encash them when they retire or resign from a company. It’s a common practice. According to Indian labour laws, each employee can take a specific number of paid holidays annually. These paid

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Ind AS 19
January 12, 2024

Exploring The Key Differences Between AS 15R And Ind AS 19 In Employee Benefit Accounting

Section 129 of the Companies Act 2013 requires companies to prepare Financial Statements each year. The objective of the Indian Accounting Standards IND AS 19 is to enhance transparency in financial transactions, aligning with accounting standards. It aims to establish

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Actuarial Valuation needs for ratuity
January 2, 2024

Actuarial Valuation: Do Employers Really Need It for Gratuity?

Actuarial valuation for gratuity is not just a numerical exercise; it’s a strategic compass that helps employers in overcoming the complexities of employee benefits. While not always mandatory, its significance is profound. But how is gratuity valued in India? Well

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What Is The Latest Rule of Gratuity
January 2, 2024

What Is The Latest Rule of Gratuity?

As we approach the close of 2023, the spotlight falls on the pivotal realm of employment benefits, particularly gratuity. The freshly introduced rules for gratuity valuation in 2023 carry profound implications for employees at large. These regulations are poised to

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Gratuity Formula Decoded
January 2, 2024

Gratuity Formula Decoded: Finding the Right Equation for Your Business

Gratuity, a nuanced component of employee compensation, plays a vital role in recognizing and appreciating an individual’s dedication to an organization. Here, Mithras Consultants has brought a clear assessment of gratuity for employees and wholesome details about it. Let us

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