Hello Friends,
I have just started working on Gratuity valuation and would like to understand how to calculate Past Service liability and future service contribution for 400 employees. I have data such as salary escalation, discount rate, age, date of joining, etc.
From India, Bengaluru
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1I have just started working on Gratuity valuation and would like to understand how to calculate Past Service liability and future service contribution for 400 employees. I have data such as salary escalation, discount rate, age, date of joining, etc.
From India, Bengaluru
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The easy way out is to go for group gratuity policy of LIC. Anyway making provision for gratuity liability is accounting function.
From India, Mumbai
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From India, Mumbai
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Thanks Shirkant, Basically I am looking for gratuity valuation calculation and trying to find out Past Service liability and future service contribution. If you can help me with this
From India, Bengaluru
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From India, Bengaluru
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In an Excel sheet, fill in the data under the following fields: name, date of joining (DOJ), years of service, rate of last basic+DA, and gratuity amount. The gratuity liability on the date can be calculated using the information provided above. At the end of every month, you will be able to view your liability.
From India, Mumbai
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From India, Mumbai
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Gratuity calculation.doc
Gratuity Calculation tool.xls