Provision for gratuity
This query is : Resolved
06 February 2009
When do we need to make provision for gratuity in the books of accounts ?
- when the employee completes 5 yrs of service, then we need to provide in books of accounts OR
- when the employee joins the co & we start paying him mthly salary
Pl provide clarity on same ASAP
thanks in anticipation
- when the employee completes 5 yrs of service, then we need to provide in books of accounts OR
- when the employee joins the co & we start paying him mthly salary
Pl provide clarity on same ASAP
thanks in anticipation
07 February 2009
Company needs to make provision from the day the employee joins the COmpany. As per AS 15 (Revised), Company will have to do actuarial valuation (who will make assumptions as to how many employees will complete 5 years of leave before that).. Provision has to be made based on the actuarial valuation done by a actuary..
13 February 2009
Hi
Thanks H Raja for your answer. This actural valuation done by actuary is when done by them? is it quarterly ? yearly ? how?
how do i make monthly prov for gratuity ? on what basis ?
Thanks H Raja for your answer. This actural valuation done by actuary is when done by them? is it quarterly ? yearly ? how?
how do i make monthly prov for gratuity ? on what basis ?
26 June 2023
"Sorry, I am not a featured member."
For featured members contact....
https://www.caclubindia.com/catalogue/featured.asp
For featured members contact....
https://www.caclubindia.com/catalogue/featured.asp
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Short Term Capital gain on shares bought and sold after 2018 onwards
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Share accounting-->fifo - capital gain - period as per fifo?
- Income of an individual
- NRE Interest Income applicability
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Query regarding TDS on EPFO Higher Pension Arrears*
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
