Actuarial Valuation - Gratuity & Other Employee Benefits
Employee benefit and retirement plans are critically dependent on a wide variety of conditions. Owing to which the amount and timing of such benefit pay-outs are unpredictable. Therefore, it is critical that liabilities remain consistent with regulatory requirements and, at the same time, mitigate risk in this environment of uncertainties.
We have more than 30 years of experience in evaluating the Defined Benefit schemes for India, Nepal, Singapore & middle east region companies. Our team of experts knows the expectations of the client and has a firm hold on local and accounting laws related to employee benefit.
ACCOUNTING Valuation of employee benefits and retirement plans
Performing statutory valuations (AS15 actuarial valuation, IAS19, US GAAP and other International Accounting Standards) of your organisation's employee benefit schemes so that you stay in compliance with the regulatory standards and manage to plan for the future intelligently.
Employee Benefit Schemes includes but not limited to following:
Gratuity
Compensated Leave Absences
Pension
Long Service Award
Exempt PF
End of Service Benefit
Any other Employee Benefit not covered above
Designing of employee benefit schemes
Assists you in structuring and restructuring of employee benefit schemes within the ambit of local markets, tax and legal restrictions and align them to your human resource and financial needs.
Valuation of eND OF SERVICE BENEFITS SAUDI ARABIA AND OTHER MIDDLE EAST COUNTRIES Under ias19
End of service benefits Saudi Arabia: Actuarial valuation of EOSB has now become mandatory for all the companies in Saudi Arabia after IFRS is implemented in the country.
End of service benefits UAE: New legislation, which was introduced on 1 July 2016, states that companies operating within the UAE are required to prepare their financial statements in compliance with IAS-19, including the Actuarial valuation of EOSB.