How To Calculate Current Service Cost in gratuity
1. Number of Empl: 8
Average Age : 43.75
Average Monthly Salary : 4783.87
Average Past Service :19
2. Results of Valuation
PV of past service benefit : 456967
Current Service Cost : 21371
Total Service Gratuity : 759298
Accrued Gratuity : 457786
LCSA : 301512
LC Premium : 790
Service Tax : 90
3. Recommended contribution rate
Fund Value as on : 401568
Additional contribution for
existing fund : 55399
Current service cost : 21371
4. Total Amount Payable : 77589
I want to know that Rs. 21371 how they calculate
From India, Chennai
1. Number of Empl: 8
Average Age : 43.75
Average Monthly Salary : 4783.87
Average Past Service :19
2. Results of Valuation
PV of past service benefit : 456967
Current Service Cost : 21371
Total Service Gratuity : 759298
Accrued Gratuity : 457786
LCSA : 301512
LC Premium : 790
Service Tax : 90
3. Recommended contribution rate
Fund Value as on : 401568
Additional contribution for
existing fund : 55399
Current service cost : 21371
4. Total Amount Payable : 77589
I want to know that Rs. 21371 how they calculate
From India, Chennai
Dear 
,
I have a doubt that you will get answer to your query on this forum. It is a specialist subject of Actuaries.
No actuary will tell you how he calculated the above figures. Even any actuary tells you this, you will not understand it. This subject is a complex one.
An actuary is a business professional who deals with the measurement and management of risk and uncertainty, compiles and analyses statistics and uses them to calculate insurance risks and premiums.
From India, Mumbai
2556I have a doubt that you will get answer to your query on this forum. It is a specialist subject of Actuaries.
No actuary will tell you how he calculated the above figures. Even any actuary tells you this, you will not understand it. This subject is a complex one.
An actuary is a business professional who deals with the measurement and management of risk and uncertainty, compiles and analyses statistics and uses them to calculate insurance risks and premiums.
From India, Mumbai
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FORM-F-NOMINATI ON OF GRATUITY.pdf
Gratuity Form I.doc