Contingent Liability
This query is : Resolved
Radhe Agrawal
(Querist)
11 March 2010
Why show Gratuity in the head of Contingent Liability in Schedule vi of company Act 1956.
Maninder Jain
(Expert)
11 March 2010
Dear Vicky
Gratuity is never shown as Contingent libility. As per AS 15 Employee Benefits, instead you have to obtain Acturial libility certificate & provide the liability in accounts.
Gratuity is never shown as Contingent libility. As per AS 15 Employee Benefits, instead you have to obtain Acturial libility certificate & provide the liability in accounts.
CMA Arif Farooqui
(Expert)
11 March 2010
agree
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