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Employee Benefit

This query is : Resolved 
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(Querist)
21 May 2008 Whether a company, must, make provision for liability arise out of employee benefits as described at AS -15 or as written in AS-29 (retirement benefit as contingent liability).
If the company does not provide such liability, whether the company is liable to be prosecuted or anwerable to any govt. authority.

Company (including its Holding foreign company) has a total turnover more than 50 crores and the indian company has a employee strength of 40.
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
21 May 2008 The companies will have to comply with accounting standards as prescribed u/s 211(3A)(3B)(3C).
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