Hi All, need some insight on fund management in Gratuity trust. If anyone has any one leads, would be happy to speak and ask questions

below are a few earlier discussions about Gratuity that may be helpful for you to check out. If you have a specific question or topic related to Gratuity, please feel free to share it along with the necessary context so we can better address your query. https://theshapeofwork.slack.com/archives/C02UCLJ8J5A/p1681727800038739?thread_ts=1681716261.301389&cid=C02UCLJ8J5A https://theshapeofwork.slack.com/archives/C02UCLJ8J5A/p1681716774992249?thread_ts=1681716261.301389&cid=C02UCLJ8J5A https://theshapeofwork.slack.com/archives/C02UCLJ8J5A/p1681717626536839?thread_ts=1681716261.301389&cid=C02UCLJ8J5A https://theshapeofwork.slack.com/archives/C03QZ4GMUSJ/p1679392856951479?thread_ts=1679392027.806399&cid=C03QZ4GMUSJ https://theshapeofwork.slack.com/archives/C03CYB9103A/p1675408057424909

Thanks @[TSOW] Priya Bhatt I wanted to understand how organisations provision for Gratuity fund? Do they need to mandatorily put amount in trust every year? Is there a liability to keep funds in the the bank account opened for Gratuity Trust?

@Kanika Mathur organizations do actuarial valuation of Gratuity. There are third parties who does this and basis that the amount is credited to the trust fund. It’s important to credit the amount to trust fund so that the amount can be invested and growing for any future Gratuity claims. Larger organizations do a proper Gratuity Audit as well as part of their HR audits. Hope this answers your query.

@Kanika Mathur you can reach out to K A Pandit, they are one of the oldest acturial firms and can help you in your questions related to managing gratuity fund. https://www.ka-pandit.com/index.php As mentioned by all, every year there is a actuarial valuation done based on the various factors like the salaries, age, tenure of the employees and an amount is decided, you need to ensure you have that amount in the trust fund. There are a few banks who also manage trust funds, but preferable according to me is LIC. They are very good in managing it, we do it through them.