Gratuity - Gratuity Benefit

How To Calculate Current Service Cost in gratuity
1. Number of Empl: 8
Average Age : 43.75
Average Monthly Salary : 4783.87
Average Past Service :19
2. Results of Valuation
PV of past service benefit : 456967
Current Service Cost : 21371
Total Service Gratuity : 759298
Accrued Gratuity : 457786
LCSA : 301512
LC Premium : 790
Service Tax : 90
3. Recommended contribution rate
Fund Value as on : 401568
Additional contribution for
existing fund : 55399
Current service cost : 21371
4. Total Amount Payable : 77589
I want to know that Rs. 21371 how they calculate

korgaonkar k a

Dear [Login to view],
I have a doubt that you will get answer to your query on this forum. It is a specialist subject of Actuaries.
No actuary will tell you how he calculated the above figures. Even any actuary tells you this, you will not understand it. This subject is a complex one.
An actuary is a business professional who deals with the measurement and management of risk and uncertainty, compiles and analyses statistics and uses them to calculate insurance risks and premiums.

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