Instant reports
Generate draft actuarial reports for Gratuity instantly. Our actuarial software is capable of more than 1 crore calculations per minute.
Cost savings
We charge just ₹3,000 per gratuity report*
Simple and easy-to-use
Our software is designed with simplicity at forefront and requires minimal inputs.
Signed
All the signed Gratuity Reports are reviewed by our panel of qualified Actuaries.
Detailed reports
Fully compliant with AS15 and IndAS19 accounting standards.
Data Privacy
Data is stored on secure AWS servers with strict User Access Controls.
Automated Calculations
Thus eliminating risk of human errors.
Pricing
Online reports
- Instant report
- Signed by our panel qualified actuary
- Up to 500 employees per report
- Unlimited revisions
- Email support
- AS15, IndAS19 accounting standards only
Offline reports
- Online reports +
- On-demand Actuarial Analyst support
- Other accounting standards including IAS19 & USGAAP
- Larger organizations with 500+ employees
- 1-day turnaround time
- Employee-wise liability breakdown
Five simple steps
How it works?
Quick demo
Gratuity report | 100 employees
Calculation time <1 minute
What our customers say?
FAQs
- I'd like to send the data in Excel rather than use the app. Is that possible?
- I have made the payment. However, I have not received the GST invoice yet.
- I am facing issues with the app. Whom do I contact?
- I need help with a few data inputs. Whom do I contact?
- How much time does the model take to run?
- My organization has more than 500 employees. Can I still avail your services?
- Who signs the reports?
- What do you mean by "Locked" the report for actuary's signatures?
- How are you able to provide gratuity reports at such low cost?
- I would like a refund. How do I apply for it?
- I already source the gratuity reports from another actuary. Can I still use the software?
- What is NOC?
Yes, our “Offline Reports” are designed to facilitate the traditional way of working where you just need to email the employee data in excel format and we will take care of the rest.
Please click here to request a quote. You will receive a quote and a callback from us immediately after.
The GST invoice will be based on the entity details provided in the “Add Organization” screen. We will email you the GST invoice within 1 working day of the payment receipt. However, at times, the process maybe delayed due to unforeseen circumstances.
Please email us at finance@itactuary.com or call us at (080) 4568 1111 in case of any issues with the invoice.
Please note that we have not automated the invoice generation to enable bulk credits for larger conglomerates.
Please email us at eb@itactuary.com or call our helpline number at (080) 4568 1111
We have provided “info” button for each line item throughout the app to help you.
Apart from the above, in case you are not sure about attrition rate and/or salary escalation rate assumptions, please read our blogs under Learn section.
If you need any further help, please call our team at (080) 4568 1111. We will assist you with actuarial assumptions and generating the gratuity reports.
It usually takes less than a minute on an average Windows PC. However, for higher employee count and depending on the system it might take up to 2 minutes.
If it takes you more than 3 minutes then click on “refresh” and go to “reports”. Call us on (080) 4568 1111 if you face any issues.
Sure, you can. You can try generating reports in our app. You might be able to generate the reports in less than 3 minutes for upto 500 employees. However, our online model is currently not scaled enough to handle larger databases. We can still generate the reports for you offline.
Please click here to request a quote.
All our reports are signed by an independent consulting actuary, qualified from Institute of Actuaries of India.
Our panel actuary holds Certificate of Practice in Employee Benefits and has the authority to sign both AS15 and IndAS19 actuarial reports for all employee benefits schemes, including Pensions, PF, Gratuity, Leave Encashment, etc.
By locking the report for actuary’s signatures, you will not be able to make any further changes to the report.
Once confirmed, our panel actuary will sign the report and upload the same on the app. You can access the signed reports in “Reports” on top navigation bar in the app (after logging in).
We strongly recommend that you share the draft report with your auditor for data and assumptions verification, before locking the reports for signature and use in next year’s valuations.
The reports are considered actuarial reports only once signed by a qualified actuary.
We have AI-based algorithms that validate the data and generate the draft actuarial reports automatically without any human involvement. We are thus able to save on time and effort resulting in cost savings. We pass on the cost saving benefit to you and thus the low price point.
You can drop us an email to finance@itactuary.com for a refund as long as you have not generated a report.
Please note that refund will not be issued once the draft report is generated, irrespective of whether the reports are signed or not.
Absolutely! You can still use our software to generate gratuity and/or leave encashment actuarial reports.
However, please note that we strongly recommend that you do not switch your actuary for a smoother process, unless you are facing issues with them.
You can switch from your existing/previous actuary to one of our panel actuaries. The only requirement is that you obtain a NOC from the previous actuary.
Only applicable if you are switching your actuary.
NOC stands for “No Objection Certificate”. It is a requirement as per Actuarial Professional Standards to obtain NOC from the previous actuary.
Generally, NOC is easily provided by the previous actuary unless you have any overdue balances with them. As such, we recommend clearing your balances before switching the actuary.
Please note that we will not be signing the report in case the previous actuary refuses to issue the NOC due to genuine reasons.