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Educational Material on Ind AS 19 Employee Benefits

Ind AS 19 Employee Benefits : Ind AS 19 Employee Benefits (amended 2011) outlines the accounting requirements for employee benefits, including short-term benefits (e.g. wages and salaries, annual leave), post-employment benefits such as retirement benefits, other long-term benefits (e.g. long service leave) and termination benefits. The standard establishes the principle that the cost of providing employee benefits should be recognised in the period in which the benefit is earned by the employee, rather than when it is paid or payable, and outlines how each category of employee benefits are measured, providing detailed guidance in particular about post-employment benefits. Ind AS 19 (2011) was issued in 2011, supersedes Ind AS 19 Employee Benefits (1998), and is applicable to annual periods beginning on or after 1 January 2013.

History of Ind AS 19

Date Development Comments
April 1980 Exposure Draft E16 Accounting for Retirement Benefits in Financial Statements of Employers published  
January 1983 Ind AS 19 Accounting for Retirement Benefits in Financial Statements of Employers issued Operative for financial statements covering periods beginning on or after 1 January 1985
December 1992 E47 Retirement Benefit Costs published  
December 1993 Ind AS 19 Retirement Benefit Costs issued Operative for financial statements covering periods beginning on or after 1 January 1995
October 1996 E54 Employee Benefits published Comment deadline 31 January 1997
February 1998 Ind AS 19 Employee Benefits issued Operative for financial statements covering periods beginning on or after 1 January 1999
July 2000 E67 Pension Plan Assets published  
October 2000 Amended to change the definition of plan assets and to introduce recognition, measurement and disclosure requirements for reimbursements Operative for annual financial statements covering periods beginning on or after 1 January 2001
May 2002 Amended to prevent the recognition of gains solely as a result of actuarial losses or past service cost and the recognition of losses solely as a result of actuarial gains Operative for annual financial statements covering periods ending on or after 31 May 2002
5 December 2002 ED 2 Share-based Payment published, proposing to replace the equity compensation benefits requirements of Ind AS 19 Comment deadline 7 March 2003
February 2004 Equity compensation benefits requirements replaced by IFRS 2 Share-based Payment Effective for annual reporting periods beginning on or after 1 January 2005
29 April 2004 Exposure Draft Proposed Amendments to Ind AS 19 Employee Benefits: Actuarial Gains and Losses, Group Plans and Disclosures published Comment deadline 31 July 2004
19 December 2004 Actuarial Gains and Losses, Group Plans and Disclosures issued Effective for annual periods beginning on or after 1 January 2006
22 May 2008 Amended by Annual Improvements to IFRSs (negative past service costs and curtailments) Effective for annual periods beginning on or after 1 January 2009
20 August 2009 ED/2009/10 Discount Rate for Employee Benefits (Proposed amendments to Ind AS 19) published Comment deadline 30 September 2009
(proposals were not finalised)
29 April 2010 ED/2010/3 Defined Benefit Plans (Proposed amendments to Ind AS 19) published Comment deadline 6 September 2010
16 June 2011 Ind AS 19 Employee Benefits (amended 2011) issued Effective for annual periods beginning on or after 1 January 2013
25 March 2013 ED/2013/4 Defined Benefit Plans: Employee Contributions (Proposed amendments to Ind AS 19) published Comment deadline 25 July 2013
21 November 2013 Defined Benefit Plans: Employee Contributions (Amendments to Ind AS 19) issued Effective for annual periods beginning on or after 1 July 2014
25 September 2014 Amended by Improvement IFRSs 2014  (discount rate: regional market issue) Effective for annual periods beginning on or after 1 January 2016

Educational Material on Ind AS 19 Employee Benefits

Ind AS 19 Employee Benefits : Employee benefits are defined as a form of compensation paid by employers to employees over and above regular salary or wages. Employee benefits come in many forms and are an important part of the overall compensation package offered to employees. Employee benefits are payments employers make to employees that are beyond the scope of wages. Typically, employers pay employees and hourly wage or a salaried wage. These wages can be based on the amount of time the employees worked or even the employees’ performance. Wages are only one part of an employee’s total compensation package.

Employee benefits are optional, non-wage compensation provided to employees in addition to their normal wages or salaries. These types of benefits may include group insurance (health, dental, vision, life etc.), disability income protection, retirement benefits, daycare, tuition reimbursement, sick leave, vacation (paid and non-paid), funding of education, as well as flexible and alternative work arrangements.

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Classification of Ind AS 19 employee benefits

Objective of Ind AS 19 Employee Benefits 

The objective of Ind AS 19 is to prescribe the accounting and disclosure for employee benefits, requiring an entity to recognise a liability where an employee has provided service and an expense when the entity consumes the economic benefits of employee service. [Ind AS 19(2011).2]

Scope Ind AS 19 Employee Benefits 

Ind AS 19 applies to (among other kinds of employee benefits):

  • wages and salaries
  • compensated absences (paid vacation and sick leave)
  • profit sharing and bonuses
  • medical and life insurance benefits during employment
  • non-monetary benefits such as houses, cars, and free or subsidised goods or services
  • retirement benefits, including pensions and lump sum payments
  • post-employment medical and life insurance benefits
  • long-service or sabbatical leave

Relevant link to download the Educational Material: Ind AS 19 Employee Benefits

Educational Material on Ind AS 19 Employee Benefits 

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Educational Material on Ind AS 19 Employee Benefits

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