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Employee Benefits Calculation

Employee Benefits Calculation by Mithras Consultancy

Employee Benefits Calculation – Over the years, the most important factors for the searching job in companies are employee benefits, the second is salary. As per the survey, the high cost of healthcare and prescription benefits play a vital role. In the way, people look for a job. Also employees gets benefit. It is the company’s responsibility to offer some level of support and hire the best consultation for their company. Also, give solutions regarding employee benefits. Get employee benefits calculated by Mithras Consultancy. Employee Benefits Calculation.

Gratuity Valuation

Employer gives token appreciation as the lump sum amount to the employee. As gratuity for the service provided to the company. Actuarial valuation calculates the present value of payments. Employee Benefits Calculation.
The gratuity amount is equal to one-fourth of the last-drawn basic salary of an employee for each completed six-month period. The retirement gratuity amount which is payable is 16 times the basic salary.

Warranty Valuation

Warranty Valuation expenses are an expense related to repair, replacement, or compensation to a user for any products defects. Also Provision calculated is to multiply your warranty claim percentage by the number of your sales in the current year. To calculate your warranty reserve liability for the current year. It should not perform as intended during a specified period.

For Gratuity provision is the benefit if a employee completes service of 5 years or more. Also gratuity provision is not valid if an employee dies or is under resignation or taken retirement.

Employee or nominees gets Gratuity even if the tenure is less than 5 years.
Mithras Consultation is an independent actuarial and insurance consultancy firm providing qualitative financial and insurance solutions to its clients. At Mithras, we take pride in providing a detailed and clear actuarial solution. Also read about Warranty Valuation here.
Comprehensive communication with clients to understand their financial situation. And also to be able to deliver an actuarial solution tailored to the financial needs of the clients. Employee Benefits Calculation

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Also Read : Get Detail Valuation Service by Mithras Consultants , The ESOP Structure , IND AS 19


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