We will walk you through the process for actuarial valutation. 


To begin evaluation, let us look at the data that is required from a company's end. 


Data Requirements for gratuity valuation:


1. List of all the employees of the company, along with their salary, date of birth and date of joining. 

2. If you have any plans with insurance companies, the fund statement of the plan is required. 

3. Previous year's valuation reports are also required. Why? 

If previous year's valuation report is not available, the same has to be completed first. Hence, all the employee's data for the         previous year shoudl also be provided, if the valuation was not done for the previous year.

This requirement is waived off incase the company was incorporated in the current FY. 

4. If any of the assumptions such as attrition rate or salary escalation rate are to be used as per auditor's requirements, the same is also to be intimated to us. 


 

Data Requirements for leave valuation:

 

1. List of all the employees of the company, along with their salary, date of birth and date of joining. 

2. Opening and closing leave balances for all the employees, in order to ascertain the number of leaves availed. 

3. The leave policy of the company.

4. Simillar to gratuity valuation, last year's report is required for leave valuation as well. 



Once the data is provided, we will analyse the data to ensure that all the particulars is provided. We do not assess the accuracy of the data at this stage. 


Once the data is found to be complete, we will begin the valuation process to ascertain the liabilities, and share the reports once they are ready.