Comprehensive
Actuarial &Employee
Benefits Solutions for Businesses
Mithras Consultants is an independent actuarial and insurance consultancy firm providing qualitative financial and insurance solution to its clients. Our goal is to provide business solution customized to client‘s need to help our clients make the best possible decisions on their financial, insurance and risk management programs. Our team has a combined experience of over 2 decades that spans into areas of Pricing ,Valuation, Investments, Risk Management etc in Insurance in general and actuarial in specific.
Years of trusted experience
Serving Clients from all over the world with our actuarial expertise.
We are providing our services since 2015, with 70+ years of cumulative team experience.
Well Documented reports with complete disclosures and analysis.
We provide draft reports within 2 working days of data received.
We have clients from all kinds of industry like FMCG, Manufacturing, IT, Educational Institutions, Automobiles, Pharmaceuticals etc
Solving all the auditors queries over call or Video meeting and making necessary changes as required.
In India, Gratuity benefits are payable as per Payment of Gratuity Act, 1972. The Act defines the level of benefits payable to an employee.
As per Payment of Gratuity Act, 1972, Gratuity payment is payable to an employee only after completion of 5 years of continuous service at the time of termination, resignation, or retirement… Read More
The Institute of Actuaries of India has introduced a new Actuarial Practice Standard (APS) on Employee Benefits (APS 27) (the “Standard”), which applies to all actuarial work relating to employee benefits effective 01-Jan-2018. This is a principle-based standard that’s aims to strengthen actuarial work/valuation related to… Read More
An actuarial valuation is a critical financial assessment conducted for employee benefit plans, particularly those offering retirement benefits. It provides a snapshot of the plan’s financial health at a specific point in time.
Through a series of calculations and assumptions, actuaries estimate the plan’s ability to meet its future obligations to participants. This process involves determining the plan’s liabilities, which is the present value of all future benefit payments promised to employees… Read More
Life insurance provides financial security and peace of mind by protecting policyholders and their families against unforeseen events. It ensures timely financial support through well-defined products tailored to clients’ needs. With our extensive expertise in actuarial processes, we specialize in product pricing, compliance, and documentation in alignment with IRDAI regulations. At Mithras Consultants, we deliver reliable solutions backed by industry experience and a commitment to excellence… Read More
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.
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.
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.
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.
A finance head closes the books. The HR team confirms leave balances. Then one line in the employee benefit report changes the company’s profit position. That moment often begins the discussion around AS15R and IND AS 19. At Mithras Consultants, …
Corporate balance sheets conceal hidden obligations behind routine numbers. Unavailed employee time off represents a deferred financial commitment. Businesses must account for these future payouts to maintain accurate fiscal health. At Mithras Consultants, we see leaders overlook these liabilities. Unrecorded …
Business leaders face a massive financial transition. The upcoming statutory laws rewrite basic wage frameworks across India. At Mithras Consultants, we see leaders struggling with these mandatory adjustments to maintain their core profitability margins intact.
Business leaders face a massive transition regarding statutory financial obligations. A restructuring of employee compensation models is mandatory. We observe executives evaluating balance sheets with intense scrutiny. At Mithras Consultants, we guide firms through complex corporate
Most finance directors in India have seen their gratuity provisions sit unchanged for years. The numbers looked stable. The calculations followed the same logic. Then the Code on Wages, 2019 arrived, and the entire basis of what counts as “wages” …
A gratuity liability rarely creates noise inside a boardroom. Yet, one policy change can alter payroll planning, employee cost projections, and long term financial obligations. Many employers still rely on older assumptions while workforce structures continue changing across India.
Business leaders face constant shifts in employee benefit structures. The new labour codes bring fundamental changes to statutory payout mechanisms. At Mithras Consultants, we guide enterprises through complex transitions, and ensure strict compliance and precise financial reporting.
Pay structures often feel like a complex puzzle for many corporate directors. Companies routinely categorize a large chunk of employee salaries under an ambiguous label. Such practices aim to reduce statutory financial contributions substantially today.
Organisations are facing a serious compliance overhaul. The Code on Social Security alters how businesses calculate employee severance benefits. Employers must rethink their financial reserves immediately. The standard five-year waiting period is no longer a universal standard. A massive restructuring …
Pay structures often feel like a complex puzzle for many corporate directors. Companies routinely categorize a large chunk of employee salaries under an ambiguous label. Such practices aim to reduce statutory financial contributions substantially today. Regulatory authorities now observe these …
Employers face a massive financial transition. The Indian wage structure will undergo a severe transformation very soon. Basic pay components must rise to meet strict statutory thresholds. Companies will observe steep changes in long-term employee benefit liabilities. Financial directors must …
Corporate financial structures across India are currently undergoing fundamental adjustments regarding employee benefit allocations. Business directors often review their balance sheets with intense scrutiny right now. Statutory modifications continually redefine how organisations manage long term employee obligations. The New Labour …
Corporate financial landscapes alter when regulations change abruptly. Business leaders must quickly adapt to updated statutory demands. A massive shift approaches the Indian employment sector very soon as companies face fresh challenges regarding employee benefit calculations. Accountants previously viewed unavailed …
The ongoing discussion around terminal benefits frequently centres on timelines and service duration. Employers often weigh the financial impact of differing employee retention periods. Understanding the core timeline is absolutely vital for proper financial planning. Most companies face a critical …
Corporate financial models often overlook temporary staff obligations until new regulations appear. The sudden inclusion of fixed term workers into statutory benefit plans reshapes liability calculations. Companies must urgently revise their core fiscal planning strategies. Historical accounting frameworks usually treated …
Regulatory overhauls act like sudden tremors in the corporate financial landscape. Business leaders suddenly find their projected budgets completely misaligned with new legal realities. Adapting to evolving statutory frameworks requires precise and immediate strategic action. The upcoming labour regulations fundamentally …
Financial statements hide unseen pressures behind final numbers. Corporate leaders often face sudden budget shocks during annual reporting. Unpredictable economic variables quietly alter long term employee benefit obligations. Companies need robust mathematical models to prevent severe financial surprises. Exploring potential …
Corporate liabilities behave like living organisms reacting to their economic environment. A slight shift in market indicators alters financial obligations almost overnight. Companies must track these external shifts carefully to avoid unexpected operational disruptions daily. Yield rates of government bonds …
Updated Gratuity Rules As Per New Labour Code For Permanent And Fixed Term Employees Instead of treating gratuity as just a year-end compliance task, companies across India are now being forced to rethink it as a long-term financial commitment. With …
Understanding The 50% Wage Rule And Its Impact On Gratuity Valuation Business directors across India possess a unique opportunity to optimise their corporate financial frameworks following the upcoming 21 November 2025 labour code implementation. Company accountants now realise that traditional …
Why Are Gratuity Costs Increasing After The 2025 Labour Code Implementation? Gratuity is no longer a distant liability that companies deal with at the time of employee exit but it has now become an active cost driver in everyday business …
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