Actuarial Services are Provided by us for compliance of :-
(i) Accounting Standard (AS) 15 (revised 2005)
Employee Benefits
Issued by The Institute of Chartered Accountants of India
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(ii) Companies Accounting Standard (AS) 15
Employee Benefits
Notified by the Ministry of Company Affairs on 07.12.2006
Under the companies (Accounting Standards) Rules, 2006
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Employee Benefits
Issued by The Institute of Chartered Accountants of India
```````````````````````````````````````
(ii) Companies Accounting Standard (AS) 15
Employee Benefits
Notified by the Ministry of Company Affairs on 07.12.2006
Under the companies (Accounting Standards) Rules, 2006
```````````````````````````````````````
1. We provide Actuarial Consultancy for compliance of the above Accounting Standards in respect of Employee Benefits. Most Common Employee Benefits in the Indian Context where Actuarial Inputs are needed are:
· Present Value of Obligation at the Beginning of the Period
· Interest Cost
· Past Service Cost
· Current Service Cost
· Curtailment Cost
· Settlement Cost
· Actuarial (Gain) / Loss on Obligations
· Actuarial (Gain) / Loss on Plan Assets
· Present Value of Obligation at the end of the period
· Fair Value of Plan Assets at the beginning of the period
· Funded Status
· Expenses Recognized in the statement of Profit & Loss
· Experience adjustment on plan Liabilities - (Loss)/Gain
· Experience adjustment on plan Assets - (Loss)/Gain
· Projected Unit Credit Method
· Demographic Assumptions
· Financial Assumptions
3. All Inputs - Employee Data, Plan Benefit Details, Assumptions for Investigation etc. etc. to be provided by Enterprises.
4. Actuarial Valuation Results – The Actuary calculates the following as per provisions of AS 15 (Revised 2005), IndAS 19 & IAS 19 (Revised 2011)-IFRS for each applicable employee benefit scheme, which then to be disclosed in company’s Annual Accounts:
· A liability in respect of the benefits in company’s balance sheet.
· An expense in respect of the benefits in company’s P&L account.
5. Proforma specially designed specific to the Plan & the Enterprise is to be filled in by the enterprise. (It will be supplied as and when asked for)
6. We have a long experience in the field of Actuarial Science. We are providing Actuarial Consultancy for more than a decade. The profile of our clientele consists of:
Public Sector Companies,
Multinational Companies,
Medium & Small Companies including SMCs,
Hospitals, Educational Institutions,
Banks, Electricity Companies,
Laboratories etc. etc.
7. We also provide our services for compliance of IndAS 19 & IAS 19 (Revised 2011)-IFRS
8. Terms and Conditions Apply
9. For more details you can contact us on the following address:
M. L. SODHI (Consulting Actuary)
Fellow of the Institute of Actuaries of India
610, SHAHPURI’S TIRATH SINGH TOWER,
C-58, COMMUNITY CENTRE,
JANAK PURI, NEW DELHI – 110058
Phone No. : 011-45502548
Mobile No. : 9312723424
JANAK PURI, NEW DELHI – 110058
Phone No. : 011-45502548
Mobile No. : 9312723424
For immediate reference
contact at following numbers : 9211637063, 9212381304
contact at following numbers : 9211637063, 9212381304
E-mail: mlsodhi@yahoo.co.in;
mlsodhiactuary@gmail.com
Other Blog/Blogs: http://www.gratuityamount.blogspot.in/
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