Examples of Projected Credit in a sentence
Gratuity, Leave Salary and Superannuation benefit form part of defined benefit plan schemes existing in the company.The above benefits are accounted for on the basis of accrual of liability towards obligation on account of past/present service cost, interest and actuarial adjustment net of return on fund invested to cover the obligation in planned assets and actuarial gain/loss thereon in terms of calculation made by actuary under Unit Projected Credit Method.
The present value of defined obligation and related current cost are measured using the Projected Credit Method with actuarial valuation being carried out at each balance sheet date.
Independent actuaries calculate the defined benefit obligation annually using the Projected Credit Unit Method.
The present value of the defined benefit obligation, and the related current service cost and past service cost were measured using the Projected Credit Unit Method.
The benefit vests after five years of continuous service.- The cost of providing benefit of Gratuity is determined based on an actuarial valuation using the Projected Credit Method at each Balance Sheet date.