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1. Formation of a New Approved Irrevocable Gratuity Trust.
2. Investment of Trust Money as per Income Tax Rules 1962.
3. Drafting of Board Resolutions Trust Deed, Trust Rules, Applications.
4. Documentation Support Services for Approvals of Trust in terms of Part C of Schedule IV from Income Tax Department in following cases :-
a. Approvals for New Gratuity Trust or Group Gratuity Scheme.
b. Approvals for Change in Trust Deed
c. Approvals for Change in Trust Rules
d. Approvals for Change in Object of Trust
e. Approvals for Change in Trustees
f. Approvals for winding up of Trust due to winding up of the Company
g. Approvals for amalgamation with another fund due to merger/acquisition of the Companies
Normally following steps are involved in the Process of Formation of “A Registered and Approved Gratuity Trust”, the details for the same are given below:
1. Assessment of Gratuity Liability by taking an Actuarial Report from Actuary,
2. Board Resolution for an Approved Gratuity Trust,
3. Selection and Appointment of Trustees,
4. Drafting and Registration of Trust Deed & Trust Rules,
5. Applying for PAN/TAN of Trust,
6. Investment Decision for Trust Money,
7. Application for Approval of Registered Gratuity Trust.
We have a Team of following Consultants with Decades of Experiences in their field and present Major Cities of India for execution of the assignments in timelines stipulated by our client: -
I. Legal Consultants - Legal Issues involved in Formation of Gratuity Trust are taken care of bythem.
II. Taxation Consultants - Accounting & Income Tax Related Issues of Gratuity Trust are taken care of bythem.
III. Consultants - Documentation of Income Tax Approval Related Issues of Gratuity Trust are taken care of bythem.
IV. Investment Consultants - Investment related Issues of Gratuity Trust Money are taken care by them.
V. Actuarial Valuation Consultants - Actuarial Valuations Reports/Certificates are provided by them needed by our clients in following events: -
(i). For Initial Funding Assessment of Gratuity and Leave Encashment Liability by Trustees,
(ii). For assessment of Accrued Liability for Gratuity and Leave Liability in following events: -
a. Transfer of Employees within a Group Company.
b. Amalgamation of 2 companies
c. De-merger of company
d. Winding of Company
(iii). For Annual Compliance of Balance Sheets as per Actuarial valuations Reports/Certificates are also required by our clients for Gratuity Plan in compliance of following Accounting Standards: -
a. For Compliance Para 120 (l) of AS 15 (Revised 2005)
b. For Full Compliance Para 120) of AS 15 (Revised 2005)
c. IndAS 19
d. IAS 19 (Revised 2011)
VI. Merchant Bankers Consultant for getting Assets Value Certification needed by Gratuity Trust where Investment is managed by the Trustees Privately.
In past 11 years we have provided our Consultancy and Supports Services to many reputed organizations spread in all sectors of Indian Economy and the main categories are: -
a. SME Clients
b. Schools/Educational Institutes
c. Non - SME Clients
d. Unlisted Companies
f. Companies Listed in Indian Stock Exchange
g. Companies Listed in Foreign Stock Exchanges
h. Multinational Companies operating in India
To avail our Consultancy Formation of Gratuity Trust & Support Services for Preparation of Inputs for Actuarial Valuations in compliance of AS 15 (Revised 2005), IndAS 19 & IAS 19 (Revised 2011) –IFRS