Gratuity treatment on actuarial valuation basis

hemant (job) (468 Points)

02 June 2011  

Please guide me in the following matter

In case of gratuity entry based on actuarial valuation if

Opening bal. of provision for gratuity 1480210

Net liability current year1300390,
Current service cost363670
Interest on obligation118417

Net actuarial losses (Gain) recognised in the year(661907)
Expense recognised in P & L is(179820)

then in the above case if i passed entry as bellow is it correct _ ??

Provision for gratuity179820 Dr.

To, Gratuity179820

i.e. net effect of gain as per valuation.

or i suppose to give other treatment

please suggest me

as early as possible

please reply

thanks in advance