Dear Sir,
Please Clarify the AS-15 Applicability. we have Newly started Division in F.Y 2011-12. But Total Entity is started long back. In new division having employees more than 100 employees and division have a Earned leave facility given to the employees.
In the above critieria is applicable AS-15. Is it required to make provision in the books of accounts in the F.Y 2011-12.
Regards,
Krishna.B
AS-15 Employee Benefits Applies to Entire Entity, Not Just New Division; Full Provisions Required for Non-SMC. A query was raised regarding the applicability of AS-15 Employee Benefits for a newly started division with over 100 employees, within an entity that has existed for a longer period. The question concerned whether provisions for earned leave should be made in the financial year 2011-12. The response clarified that AS-15 applies to the entire entity, not just the new division. As the entity is a non-SMC (Small and Medium-sized Company), full provisions for both short-term and long-term employee benefits are required. (AI Summary)
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