Gratuity Valuation

smita244 · #1 29-06-2009, 03:33 PM

Dear All,

Is it mandatory to get the gratuity valuation done. If yes can it be annually.

We get our gratuity valuation done from a certified Actuary. This person is charging a high fee. Can someone provide contact number of a certified Gratuity Actaurial.

Thanks,
Smita

malikjs · #2 29-06-2009, 03:50 PM

dear smita
why to do gratuity valuation?
regards
js malik

Divya_w · #3 29-06-2009, 04:14 PM

Hi,

CA institute as issued AS - 15 Rmployee's benefit the same should solve ur problem. Well i dont have a consultant for valuing it.

Warm Regards,

Divya

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smita244 · #4 29-06-2009, 04:25 PM

Dear Malikjs,

Thank you for your reply. We need to submit it to our auditors. They ask for it.

thanks,
rgds,
Smita

R.N.Khola · #5 29-06-2009, 04:25 PM

Dear Smita.

I do not think so.
Regards,
R.N.Khola
Sr. Associate
Skylark Associates, Gurgaon(Haryana)
(Labour Law & Legal Consultants)
09810405361

Awvik · #6 30-06-2009, 09:29 AM

Dear Smita,

You don't need to value your gratuity for your auditors. Atleast the Act doesn't say so.

Regards

Divya_w · #7 30-06-2009, 10:00 AM

Hi,

Its as per Accounting standard S - 15 as i have attached above.

Warm Regards,

Divya

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globaloverseas144 · #8 30-06-2009, 10:59 AM

Hi Smeta,

There is no need to calculate gratuity valuation by any other people,your company person can do this by themselve.

Why your auditor is asking for higer price for this,you can negiotiate with other firm ?

And it is only applicaton if any employee is discharging form your company after its eligibility.
Have you added gratuity amount in the employee CTC?

Please let us know the complete answer from your side.
dont give heavy amount to any consultant for this,i can send you a formula bar precalculated excel sheet where you can calculate it easily.

Best Regards
Sajid Ansari-Delhi

arunkumar · #9 30-06-2009, 02:39 PM

Dear All

Gratuity valuation is a mandatory requirement under AS15 accounting standards. Any auditor should be verifying the Gratuity valuation process/documents as per this - If I am right, the auditors are supposed to verify whether the Company has made yearly provisions for Gratuity payments which may arise in the future.

Regards

P.Arunkumar

hrssonepat · #10 30-06-2009, 03:23 PM

This comes under actuary valuation and is required under AS-15 accounting standard. After discloure of fraud in Satyam computer, it has become mandatory and all statutory auditors are asking for it. It is not new but in past it had not gained so much importance.

Regards