Employee Benefits

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

New Actuarial Practice Standard (27)Used for Actuarial Valuation

  • 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)