Respected Sirs,
We would like to take Gratuity Plan for our employees (around 700). Kindly suggest more options apart from LIC to get this plan.
Your imminent guidance is required.
Regards,
Jyoti Negi
From India, Delhi
2We would like to take Gratuity Plan for our employees (around 700). Kindly suggest more options apart from LIC to get this plan.
Your imminent guidance is required.
Regards,
Jyoti Negi
From India, Delhi
Hi Jyoti Negi,
Apart from LIC plan – there are two options which depends on the employee strength and years of operations;
1. Provision in the books : A gratuity liability is created in the liabilities in the Balance sheet and this is based on the actuarial valuation by the Actuarial.
2. Have your own trust to manage gratuity like Birlas, Tata’s have their own gratuity trust etc.
Hence at the end of the day, you have to weigh these options take a call.
Regards,
Rajat
From India, Pune
Apart from LIC plan – there are two options which depends on the employee strength and years of operations;
1. Provision in the books : A gratuity liability is created in the liabilities in the Balance sheet and this is based on the actuarial valuation by the Actuarial.
2. Have your own trust to manage gratuity like Birlas, Tata’s have their own gratuity trust etc.
Hence at the end of the day, you have to weigh these options take a call.
Regards,
Rajat
From India, Pune
Dear Jyoti,
If your want to switch from LIC, there are other vendors in the Market and most of the private insurance players are offering group gratuity solutions.
However, if your management is not happy with the returns or the way the policy is managed, you should go for having you rown trust and managing the same yourself.
We are a corporate consultancy firm having hand on experience of managing employee welfare trusts - PF, Gratuity and Superannuation and can help you in the matter if you wish to avail our professional services. We can take over the complete trust matter and do it for you.
Please feel free to contact us.
From India, New Delhi
If your want to switch from LIC, there are other vendors in the Market and most of the private insurance players are offering group gratuity solutions.
However, if your management is not happy with the returns or the way the policy is managed, you should go for having you rown trust and managing the same yourself.
We are a corporate consultancy firm having hand on experience of managing employee welfare trusts - PF, Gratuity and Superannuation and can help you in the matter if you wish to avail our professional services. We can take over the complete trust matter and do it for you.
Please feel free to contact us.
From India, New Delhi
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