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My Company is having LIC group gratuity insurance for its gratuity liability. LIC is giving annually the fund balance and the actuarian valuation annually... now my doubt is whether my company has to revalue the gratuity liabilty from an independent valuer or the one provided by LIC will suffice... Pls anyone advise..its urgent..
From India, Bangalore
You should get an independent valuation done as per AS-15. LIC does the valuation from a perspective of premium calculation.
From India, New Delhi
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