1. INNOVATION IN AREA OF EMPLOYEE BENEFITS
D. K. Pandit
Jayesh Pandit
M/s K.A. Pandit

2. EMPLOYEES CONTRACT EMPLOYEES-- REGULAR EMPLOYEES
PUBLIC SECTOR-- PRIVATE SECTOR
ORGANISED SECTOR--- UNORGANISED SECTOR
SELF EMPLOYED, HOME SERVENTS, FAMILY
M/s K.A. Pandit

3. FINANCIAL REQUIREMENT DURING ACTIVE LIFE AND POST ACTIVE LIFE ,CITY -TOWN -VILLAGE
MINIMUM RUPEES 1OO PER DAY PER PERSON IN VILLAGE
MINIMUM RUPEES PER DAY PER PERSON IN SMALL TOWN
MINIMUM RUPEES PER DAY PER PERSON IN BIG TOWN
MINIMUM RUPEES PER DAY PER PERSON IN CITY
MINIMUM RUPEES PER DAY PER PERSON IN METRO CITY
THIS IS AS PER CURRENT FINANCIAL STANDARD
EXPECTED TO RISE DUE TO INFLATION
M/s K.A. Pandit

4. AVENUES AVAILABLE - AVENUES POSSIBLE
AVENUES AVAILABLE ARE PLENTY BUT NOT PROPERLY EXPLORED
AS EXPANSION OF BHARAT TAKES PLACE UNDER E GOVERNANCE AVENUES WILL INCREASE.
PROPER HEALTHCARE AND POST EMPLOYEMENT BENEFIT WILL BE POSSIBLE IF GOVERNMENT SOCIAL RESPONSIBILITY IS UTILISED AND PROPERLY MANAGED.
IT IS ONLY AFTER ALL NEEDS DURING WORKING LIFE IS MET AND MINIMUM SAVING IS MADE FOR THE FUTURE A PLAN CAN BE DEVISED.
ACTUARIAL IN PUTS ARE POSSIBLE AND WE SHOULD IMPRESS UPON OUR ABILITIES AND TOOLS.
M/s K.A. Pandit

5. BENEFITS FROM GOVERNMENT SCHEMES MANDATORY FOR ORGANISED SECTOR
As per Payment of Gratuity Act
M/s K.A. Pandit

6. GOVERNMENT SCHEMES FOR ALL IN FORM PRADHAN MANTRI VARIOUS YOJANAS
THESE ARE AVAILABLE ON GOVERNMENT SITE AND WE CAN IMPRESS UPON NEED TO CONSULT ACTUARIES FOR VALUING AND PROPER MANAGEMENT WHERE POSSIBLE.
M/s K.A. Pandit

7. YOUNG INDIA EXPECTATIONS RESPONSIBILITY
IT IS OBSERVED AND STRESSED UPON BY OUR MODIJI THAT 65% OF OUR POPULATION IS YOUNG.
THEIR EXPECTATIONS AND DREAMS ARE VERY BIG.
IT IS FACT THAT THEIR RESPONSIBILITY IS TO WORK FOR BETTER FOR THEMSELVES AND NATION.
IDLE MIND IS DEVIL’S WORKSHOP
THEY MUST BE EMPLOYED TO DO WORK WHICH THEY CAN DO
M/s K.A. Pandit

8. NEW PENSION SCHEME NEED FOR POPULARISING THE SAME COUPLED WITH HEALTH CARE
THIS IS WHERE MANY GET SELF OR SIDE EMPLOYMENT
ACTUARIES ARE AND WILL BE NEEDED TIME WILL DETEREMINE
M/s K.A. Pandit

9. MORTALITY RATE IN NEW SECTORS DEFFICULT TO DETERMINE DUE TO EMPLOYEE ATTRITION RATE .
THIS STATEMENT IS TRUE FOR DETERMINING MORTALITY RATE WHILE IN SERVICE OF ANY SMALL OR MEDIUM ORGANISED SECTOR .
THIS CAN BE POSSIBLE PARTLY IN EPFO
M/s K.A. Pandit

10. EMPLOYEE BENEFIT AND ACTUARIAL VALUATIONS
MR.JAYESH.PANDIT WILL TALK ABOUT VARIOUS POST EMPLOYEMENT BENEFITS WHICH REQUIRE ACTUARIAL VALUATION.
M/s K.A. Pandit

11. INTRODUCTION What is Employee Benefits?
What are the different types of Employee Benefits?
What is Role of Actuary?
Going Forward
M/s K.A. Pandit

12. IS IT THE BENEFIT OR THE VALUATION
“Employee Benefits” in general, are compensation paid to an employee. Some benefits are mandated by law (such as social security, unemployment compensation, and workers compensation), others vary from firm to firm or industry to industry (such as health insurance, life insurance, medical plan, paid vacation, pension, gratuity).
The purpose of employee benefits is to increase the economic security of staff members, and in doing so, improve worker retention across the organization. As such, it is one component of reward management.
From employee perspective it is the benefit
From Actuarial perspective it is the valuation or design of benefit
M/s K.A. Pandit

13. TYPES EMPLOYEE BENEFIT
Gratuity
Compensated leave absence
Pension Db and DC
Post retirement Medical benefit
Long service benefit
Free pass given by railways and airlines post retirement
Free stay at guest house by companies
Free stay at hotels by hotels
M/s K.A. Pandit

14. PROSPECTIVE AREAS FOR CONSULTING
ESOPS
Retention Bonus
Joining Bonus
Payment of Bonus Act 1965
Resettlement allowance
Loan subsidy for loan given to staff
Higher interest credited to
staff account
Interest shortfall on the PF
Transfer values
Discount on the products
Film Valuation
Movie Distribution Right
Warranties
Property Valuations
Lev & Schwartz Model
M/s K.A. Pandit

15. ROLE OF ACTUARY Valuing the benefit Costing benefit Designing Benefit
The perspective will defer for post retirement and pre retirement benefit
M/s K.A. Pandit

16. We work for you, wherever your business takes you.
M/S. K. A. Pandit
Consultants & Actuaries
We work for you, wherever your business takes you.
Thank You!
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