Group Gratuity Compliance — Reconciled. Reported. In Order.
Compliance support for employers running a group gratuity scheme through an insurer - contribution reconciliation, reporting and coordination with the insurer and trustees.
Book Free ConsultationWhere an employer funds its gratuity liability through a group insurance scheme, compliance doesn't end with paying the premium. Contributions need to be reconciled with the insurer's statements, and the scheme's operation still needs to be reported through the trust that holds the policy.
At N D Savla & Associates, we support employers in Nashik and across Maharashtra in staying compliant on their group gratuity arrangement - reconciling insurer statements, coordinating with trustees, and preparing the reporting the arrangement requires.
A group scheme is sometimes treated as a set-and-forget arrangement once the policy is in place, but the underlying trust and its reporting obligations continue independently of the insurer's administration. We keep both sides aligned.
Our Services
Insurer Statement Reconciliation
Reconciling annual premium and fund value statements issued by the insurer against trust records.
Contribution Compliance
Checking employer contributions to the scheme against the funding requirement determined by valuation.
Trustee-Insurer Coordination
Coordinating between trustees and the insurer on policy servicing, claims and fund statements.
Claims Processing Support
Supporting trustees in processing gratuity claims for exiting employees through the insurer.
Scheme Documentation Review
Reviewing the group policy terms against the trust deed and rules for consistency.
Reporting Compliance
Preparing the reporting the trust holding the policy is required to make independent of the insurer.
Renewal Review
Reviewing the scheme at each policy renewal against the trust's current funding position.
Query Handling
Responding to queries raised by the insurer, actuary or tax authority on the scheme's operation.
Our Process
Scheme Document Review
The group policy, trust deed and rules are reviewed together to check they are consistent.
Reconciliation Setup
A routine is set up to reconcile insurer statements against the trust's contribution and valuation records.
Ongoing Coordination
Trustees, the insurer and the actuary are coordinated with through the year as claims and renewals arise.
Reporting Preparation
The trust's independent reporting obligations are prepared and filed alongside the insurer's administration.
Renewal Review
The scheme is reviewed at renewal against the trust's current funding position and liability.
Why It Matters
Frequently Asked Questions
Running a group gratuity scheme?
Send us your policy and trust records - we'll reconcile the position and set up ongoing compliance support.
