We Provide
Actuarial Services

With over 8 years of experience helping
businesses to find comprehensive solutions

Gratuity Valuation

Feature Icon
Global presence

Serving Clients from all over the world with our actuarial expertise.

Feature Icon
Vast Experience

We are providing our services since 2015, with 70+ years of cumulative team experience.

Feature Icon
Detailed Reports

Well Documented reports with complete disclosures and analysis.

Feature Icon
Timeline

We provide draft reports within 2 working days of data received.

Feature Icon
Esteemed Clients

We have clients from all kinds of industry like FMCG, Manufacturing, IT, Educational Institutions, Automobiles, Pharmaceuticals etc

Feature Icon
End to End service

Solving all the auditors queries over call or Video meeting and making necessary changes as required.

Make Customer Happy is Our Goal.

To provide consultancy for preparing of all sorts of insurance services

Ball Icon
Gratuity Valuation

Gratuity valuation

Know More
employee benefit Gratuity Valuation

Employee Benefit

Know More
Actuarial Valuation

Actuarial Valuation

Know More
Ball Icon Ball Icon
Insurance Consultants

Life Insurance

Know More

1800+ trusted user & they love us.

actuarial services

WHO ARE WE

Mithras Consultants is an independent actuarial and insurance consultancy firm providing qualitative financial and insurance solution to its clients. At Mithras, we take pride in providing detailed and clear actuarial solution.

Mithras Consultants

REGULATORY COMPLIANCE ENSURED

Complete adherence to regulatory principles and professional guidelines is at the heart of each financial activity we carry at Mithras. Actuarial Services are best provided.

Actuarial Valuation

NEED BASED SOLUTIONS

Comprehensive communication with client to understand their financial situation and to be able to deliver actuarial solution tailored to the financial needs of the client.

Get a quote

Select a product to start your quote


Ready to start? Compare and find your plan.

Facing any problem to get a quote!

call:  +91-9212375418

Client all over the world sent us feedback

Things go wrong. You’ll have questions. We understand.

Best Actuarial Services at Mithras Consultants

Mithras Consultants is an independent actuarial and insurance consultancy firm providing actuarial services and qualitative financial and insurance solutions to its clients. Complete adherence to regulatory principles and professional guidelines is at the heart of each financial activity we carry out at Mithras. Actuarial Services are best provided.

Find your all Actuarial Valuation related questions.

The Gratuity Act 1972, describes that the gratuity is payable to an employee after completing 5 years of vesting period in case of resignation, termination or retirement. However, the provision shall be done as per the accounting standard even if the Company has not completed 5 years of operations. As per Para 72 of Ind AS 19/ Para 70 of AS 15, Gratuity Provision shall be made even for service of less than 5 years.
Payment of Gratuity Act applies to your company if you have more than 10 employees. All companies having 10+Employees need to make Provision for Gratuity as per Actuarial Valuation method Projected Unit credit method (PUCM) to comply with AS15/ Ind AS19.
No, the actuarial valuation is not required for short-term benefits. In case, the benefit paid after 12 months, the actuarial valuation is needed as per AS 15 R / IND AS 19 accounting standard.
For SMC, the actuarial valuation is required but detailed disclosures are exempted.
Para 78 of AS 15 states that the rate used to discount post-employment benefit obligations (both funded and unfunded) should be determined by reference to market yields at the balance sheet date on government bonds. Similarly, IND AS 19 also prescribe to refer government bond yield to set discount rate. In order to set the discount rate, its critical to keep currency and term of the bonds to be consistent with liability duration.
In India, currently there are no regulations to keep fund to back the gratuity provision calculated by an Actuary. However, it is always encouraged to keep fund in order to pay off liabilities on time and to avoid/reduce interest rate and reinvestment risk. Further, there are tax advantages for funding.
There are three key factors which shall be considered to set attrition assumption: a) Company’s recent attrition experience in last 2-3 years b) Industry experience of employee attrition c) Management view on future attrition
Even if the plan is funded and managed by an Insurance Company, still the Company need to get a separate actuarial valuation done. The reason being that an insurance company does not provide complete disclosures as required by accounting standard regulations and sometimes the assumptions are not fair and inconsistent with Company’s own experience.

Get an instant quote right now