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Contingent Liability

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(Querist)
11 March 2010 Why show Gratuity in the head of Contingent Liability in Schedule vi of company Act 1956.
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Maninder Jain

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Maninder Jain (Expert)
11 March 2010 Dear Vicky

Gratuity is never shown as Contingent libility. As per AS 15 Employee Benefits, instead you have to obtain Acturial libility certificate & provide the liability in accounts.
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CMA Arif Farooqui

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CMA Arif Farooqui (Expert)
11 March 2010 agree
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