Disclosure of AS 15

tell any answer

I have 10 employee on the roll of the company, the acturial valuation is done but no policy taken or trust created today the balance sheet is ready and audit is completed.

What will be the disclosure of above in the notes to account and policy.

Dear Srinivasan,

"Gratuity payable to eligible employees is administered a separate Trust ,which has taken a Gratuity policy  with LIC .Demands made by the Trust including the annual contribution and risk premium for the future service gratuity of the LIC policy are charged to Profit &Loss Account."

Something like this can be disclosed.

kkm

Dear Ravindra Kumar,

"Gratuity payable to employees is provided for on the basis of an actuarial valuation at the Balance Sheet date,carried out by an independent actuary."

Some thing like the above may be disclosed.

kkm