https://www.taxtmi.com/forum/issue?id=4231 Actuarial valuations must be prepared by a qualified actuary to measure employee benefit obligations, producing a liability for the balance sheet and an expense for the profit and loss account. Applicable schemes include gratuity, leave benefits, pension schemes with guaranteed returns, exempt provident funds, long service awards, bonus and profit sharing arrangements. Funded-scheme insurer certificates are acceptable if signed by a qualified actuary. Contributions to insurers do not replace actuarial measurement; valuation requires projecting future benefits and discounting to present value, with disclosures in annual accounts. en-us Thu, 07 Jun 2012 15:24:17 +0530 Thu, 23 Jan 2025 15:58:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=4231 Actuarial valuations must be prepared by a qualified actuary to measure employee benefit obligations, producing a liability for the balance sheet and an expense for the profit and loss account. Applicable schemes include gratuity, leave benefits, pension schemes with guaranteed returns, exempt provident funds, long service awards, bonus and profit sharing arrangements. Funded-scheme insurer certificates are acceptable if signed by a qualified actuary. Contributions to insurers do not replace actuarial measurement; valuation requires projecting future benefits and discounting to present value, with disclosures in annual accounts. Discussion-Forum Companies Law Thu, 07 Jun 2012 15:24:17 +0530 https://www.taxtmi.com/forum/issue?id=4231